Chesley Taft & Associates LLC Sells 6,674 Shares of Broadcom Inc. $AVGO

Key Points

• Chesley Taft & Associates LLC reduced its shares in Broadcom Inc. by 2.4%, now holding 270,274 shares worth approximately $74.5 million, making it the firm's third-largest position.
• Broadcom's stock price has decreased by 3.8%, with its 12-month high at $374.23 and earnings per share reported at $1.69, exceeding estimates.
• The company declared a quarterly dividend of $0.59, reflecting an annualized yield of 0.7%, with a dividend payout ratio of 60.20%.

Chesley Taft & Associates LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 270,274 shares of the semiconductor manufacturer's stock after selling 6,674 shares during the period. Broadcom comprises 3.3% of Chesley Taft & Associates LLC's holdings, making the stock its 3rd biggest position. Chesley Taft & Associates LLC's holdings in Broadcom were worth $74,501,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC bought a new position in shares of Broadcom during the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom during the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 0.1%

Broadcom stock traded down $0.41 during trading on Friday, reaching $344.94. The stock had a trading volume of 41,147,297 shares, compared to its average volume of 27,762,164. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The business has a 50 day moving average price of $308.05 and a 200 day moving average price of $247.72. 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 stock has a market cap of $1.63 trillion, a PE ratio of 87.99, a P/E/G ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the previous year, the firm earned $1.24 earnings per share. The firm's quarterly revenue was up 22.0% on a year-over-year basis. 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 Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Susquehanna increased their price target on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. Mizuho increased their price target on shares of Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Finally, Macquarie began coverage on shares of Broadcom in a report on Monday, September 15th. They set an "outperform" rating and a $420.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $356.48.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares of the company's stock, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 840,522 shares valued at $236,959,124. Company insiders own 2.00% of the company's stock.

About Broadcom

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.