Alpha Cubed Investments LLC Sells 63,903 Shares of Broadcom Inc. $AVGO

Key Points

• Alpha Cubed Investments LLC cut its Broadcom stake by 19.0% in the fourth quarter, selling 63,903 shares and leaving it with 271,576 shares worth about $93.99 million.
• Broadcom continues to attract major institutional interest, with hedge funds and asset managers holding 76.43% of the stock, even as some investors trimmed positions and others added aggressively.
• The company reported better-than-expected earnings for the quarter, beating EPS and revenue estimates, while analysts remain bullish with multiple price-target raises and a consensus rating of Moderate Buy.

Alpha Cubed Investments LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 271,576 shares of the semiconductor manufacturer's stock after selling 63,903 shares during the period. Broadcom accounts for approximately 3.2% of Alpha Cubed Investments LLC's portfolio, making the stock its 10th biggest holding. Alpha Cubed Investments LLC's holdings in Broadcom were worth $93,993,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its position in Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock worth $1,858,789,000 after buying an additional 4,694,313 shares during the period. Vanguard Group Inc. lifted its position in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the period. Nordea Investment Management AB lifted its position in Broadcom by 47.5% during the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock worth $3,406,211,000 after buying an additional 3,160,586 shares during the period. Danske Bank A S purchased a new position in Broadcom during the third quarter worth about $987,488,000. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in Broadcom during the fourth quarter worth about $924,858,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

Broadcom stock opened at $419.30 on Wednesday. The stock's 50-day moving average is $358.98 and its 200-day moving average is $353.01. The company has a market cap of $1.99 trillion, a price-to-earnings ratio of 81.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. Broadcom Inc. has a 12 month low of $221.60 and a 12 month high of $437.68.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company's revenue was up 29.5% on a year-over-year basis. During the same period last year, the business posted $1.60 EPS. Equities analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom's dividend payout ratio (DPR) is presently 50.78%.

Insider Activity at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the sale, the director directly owned 32,352 shares in the company, valued at $11,592,045.12. The trade was a 3.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the sale, the insider owned 278,141 shares in the company, valued at $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last ninety days. Company insiders own 1.90% of the company's stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
• Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
• Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
• Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. Citigroup restated a "buy" rating and issued a $500.00 target price (up from $475.00) on shares of Broadcom in a report on Tuesday. Wolfe Research upgraded shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price target on the stock in a report on Friday, January 30th. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Truist Financial boosted their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Finally, DA Davidson raised shares of Broadcom to a "hold" rating in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $436.13.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.