Bragg Financial Advisors Inc Sells 7,780 Shares of Broadcom Inc. $AVGO

Key Points

• Bragg Financial Advisors Inc reduced its holdings in Broadcom Inc. by 5.3%, selling 7,780 shares and now owning 139,041 shares, which constitutes approximately 1.0% of its portfolio.
• Broadcom reported a $1.58 EPS for the last quarter, beating expectations, with a 20.2% year-over-year revenue increase amounting to $15 billion.
• The company's board declared a quarterly dividend of $0.59 per share, reflecting an annualized yield of 0.8% and a payout ratio of 88.39%.

Bragg Financial Advisors Inc reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 139,041 shares of the semiconductor manufacturer's stock after selling 7,780 shares during the period. Broadcom accounts for approximately 1.0% of Bragg Financial Advisors Inc's portfolio, making the stock its 29th largest holding. Bragg Financial Advisors Inc's holdings in Broadcom were worth $23,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Waddell & Associates LLC boosted its holdings in Broadcom by 2.1% in the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after acquiring an additional 43 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after purchasing an additional 48 shares during the last quarter. Martingale Asset Management L P raised its stake in shares of Broadcom by 1.3% in the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after purchasing an additional 48 shares during the last quarter. Fulton Breakefield Broenniman LLC raised its stake in shares of Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock worth $357,000 after purchasing an additional 50 shares during the last quarter. Finally, American Financial Advisors LLC raised its stake in shares of Broadcom by 3.8% in the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock worth $240,000 after purchasing an additional 52 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

NASDAQ:AVGO opened at $291.17 on Thursday. The stock has a 50-day simple moving average of $281.27 and a two-hundred day simple moving average of $231.35. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The firm has a market capitalization of $1.37 trillion, a PE ratio of 109.05, a P/E/G ratio of 2.10 and a beta of 1.15.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the transaction, the chief executive officer owned 482,836 shares in the company, valued at $129,540,070.44. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent analyst reports. Benchmark boosted their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Rosenblatt Securities lifted their price objective on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $295.96.

Broadcom Company 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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