Broadcom Inc. $AVGO Shares Sold by Glass Wealth Management Co LLC

Key Points

• Glass Wealth Management Co LLC reduced its holdings in Broadcom Inc. by 3.3%, now owning 96,181 shares valued at approximately $26.5 million, making Broadcom its largest investment.
• Insider transactions included director Henry Samueli selling 368,797 shares for over $124.6 million, while CFO Kirsten M. Spears sold 7,498 shares valued at about $2.6 million.
• Broadcom's stock opened at $324.63 but has seen a 5.9% decline recently, despite a strong earnings report with a 22% revenue increase year-over-year and an EPS of $1.69.

Glass Wealth Management Co LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,181 shares of the semiconductor manufacturer's stock after selling 3,301 shares during the period. Broadcom comprises approximately 14.1% of Glass Wealth Management Co LLC's investment portfolio, making the stock its biggest holding. Glass Wealth Management Co LLC's holdings in Broadcom were worth $26,512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sawyer & Company Inc increased its holdings 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 buying an additional 36 shares in the last quarter. Legend Financial Advisors Inc. purchased a new position in Broadcom in the second quarter valued at $28,000. Maseco LLP purchased a new position in Broadcom in the second quarter valued at $34,000. PFS Partners LLC increased its holdings in Broadcom by 38.4% in the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 38 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom in the first quarter valued at $25,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 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 insiders.

Broadcom Stock Down 5.9%

AVGO stock opened at $324.63 on Friday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The stock has a market capitalization of $1.53 trillion, a P/E ratio of 82.81, a P/E/G ratio of 1.91 and a beta of 1.20. 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 firm has a 50-day simple moving average of $322.64 and a 200-day simple moving average of $262.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $15.82 billion. During the same quarter in the prior year, the company earned $1.24 EPS. Broadcom's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.59 per share. 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 currently 60.20%.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. TD Cowen lifted their price objective on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a report on Friday, September 5th. Morgan Stanley lifted their price objective on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Rosenblatt Securities lifted their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Macquarie assumed coverage on shares of Broadcom in a research note on Monday, September 15th. They set an "outperform" rating and a $420.00 target price for the company. Finally, Evercore ISI reissued an "outperform" rating and set a $342.00 target price (up previously from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus target price of $357.22.

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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