Ameriprise Financial Inc. Has $4.38 Billion Stock Position in Broadcom Inc. $AVGO

Key Points

• Ameriprise Financial Inc. reduced its holdings in Broadcom Inc. by 3.6%, holding approximately $4.38 billion in shares after selling nearly 1 million shares in the first quarter.
• CEO Hock E. Tan sold 117,758 shares of Broadcom, which contributed to a significant decrease in his ownership stake to approximately 1 million shares valued at about $256.5 million.
• Broadcom's stock has a current market cap of $1.37 trillion, with recent earnings showing a revenue increase of 20.2% year-over-year, totaling $15 billion for the last quarter.

Ameriprise Financial Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,212,105 shares of the semiconductor manufacturer's stock after selling 977,274 shares during the quarter. Broadcom accounts for approximately 1.2% of Ameriprise Financial Inc.'s investment portfolio, making the stock its 8th largest position. Ameriprise Financial Inc. owned approximately 0.56% of Broadcom worth $4,383,017,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom during the first quarter valued at $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom in the 1st quarter worth about $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom in the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom during the 4th quarter worth about $30,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the sale, the chief executive officer owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider owned 789,784 shares in the company, valued at $199,720,577.92. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock valued at $217,286,457 over the last ninety days. Company insiders own 2.00% of the company's stock.

Broadcom Stock Down 1.3%

Shares of Broadcom stock opened at $291.17 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. The business has a fifty day simple moving average of $281.27 and a 200 day simple moving average of $231.35. The stock has a market cap of $1.37 trillion, a PE ratio of 109.05, a price-to-earnings-growth ratio of 2.10 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same period in the previous year, the firm earned $10.96 earnings per share. The company's revenue was up 20.2% on a year-over-year basis. Broadcom has set its Q3 2025 guidance at EPS. Research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Analyst Ratings Changes

AVGO has been the subject of a number of recent research reports. Citigroup raised their price target on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Mizuho raised their price objective on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price objective on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Finally, Bank of America raised their target price on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average target price of $295.96.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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