Broadcom Inc. $AVGO Shares Sold by American National Bank & Trust

Key Points

• American National Bank & Trust reduced its stake in Broadcom by 1.4%, now holding 103,417 shares valued at approximately $28.5 million.
• The company's recent earnings report showed a 22% increase in revenue year-over-year, with an EPS of $1.69 surpassing expectations.
• Broadcom announced a quarterly dividend of $0.59 per share, representing a yield of 0.7%, to be paid on September 30th.

American National Bank & Trust cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,417 shares of the semiconductor manufacturer's stock after selling 1,461 shares during the quarter. Broadcom comprises 2.9% of American National Bank & Trust's portfolio, making the stock its 7th biggest position. American National Bank & Trust's holdings in Broadcom were worth $28,507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom during the first quarter worth about $25,000. Cheviot Value Management LLC acquired a new stake in Broadcom during the first quarter worth about $25,000. Inlight Wealth Management LLC acquired a new stake in Broadcom during the first quarter worth about $26,000. Sawyer & Company Inc increased its stake in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 36 shares during the last quarter. Finally, Wood Tarver Financial Group LLC increased its stake in Broadcom by 342.5% during the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after acquiring an additional 137 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Down 0.5%

NASDAQ:AVGO opened at $334.53 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The business's 50 day moving average is $313.66 and its two-hundred day moving average is $253.32. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The company has a market cap of $1.58 trillion, a PE ratio of 85.34, a P/E/G ratio of 1.85 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the business posted $1.24 EPS. Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Benchmark increased their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, September 5th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Barclays increased their price objective on shares of Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Finally, TD Cowen increased their price objective on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $356.48.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total value of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is currently owned by corporate insiders.

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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