Broadcom Inc. $AVGO Holdings Cut by Cyndeo Wealth Partners LLC

Key Points

• Cyndeo Wealth Partners LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.5% during the second quarter, now owning approximately 188,239 shares worth about $51.9 million, making it the second largest holding in their portfolio.
• Broadcom has a market cap of $1.66 trillion and reported a 22% year-over-year revenue increase, with earnings of $1.69 per share exceeding analyst expectations.
• The company has declared a quarterly dividend of $0.59, which marks a yield of 0.7% based on its annualized dividend payout ratio of 60.20%.

Cyndeo Wealth Partners LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188,239 shares of the semiconductor manufacturer's stock after selling 2,804 shares during the quarter. Broadcom makes up approximately 3.1% of Cyndeo Wealth Partners LLC's investment portfolio, making the stock its 2nd biggest holding. Cyndeo Wealth Partners LLC's holdings in Broadcom were worth $51,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC purchased a new position in Broadcom in the first quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new position in Broadcom in the first quarter valued at about $26,000. Sawyer & Company Inc grew its stake in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in Broadcom in the second quarter valued at about $28,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $351.33 on Thursday. The business's 50 day moving average price is $325.83 and its 200 day moving average price is $266.04. The firm has a market cap of $1.66 trillion, a P/E ratio of 89.63, a P/E/G ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio is presently 60.20%.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the sale, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 664,471 shares valued at $225,184,128. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AVGO shares. Rosenblatt Securities lifted their price objective on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Macquarie began coverage on shares of Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Finally, TD Cowen boosted their target price on Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $372.33.

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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