Broadcom Inc. $AVGO Shares Sold by Global Assets Advisory LLC

Key Points

• Global Assets Advisory LLC significantly reduced its stake in Broadcom Inc. by 65.4%, now holding 2,284 shares worth approximately $605,000.
• Broadcom's stock recently declined by 5.9%, with a current price of $324.63 and a market cap of $1.53 trillion.
• Analysts have issued bullish ratings for Broadcom, with several increasing their target prices, including Bank of America raising its target from $300 to $400.

Global Assets Advisory LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 65.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,284 shares of the semiconductor manufacturer's stock after selling 4,325 shares during the period. Global Assets Advisory LLC's holdings in Broadcom were worth $605,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom in the 1st quarter valued at about $25,000. Cheviot Value Management LLC purchased a new position in Broadcom in the 1st quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new position in Broadcom in the 1st quarter valued at about $26,000. Sawyer & Company Inc lifted its holdings in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in Broadcom in the 2nd quarter valued at about $28,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 5.9%

AVGO opened at $324.63 on Friday. The firm has a 50 day moving average price of $322.64 and a 200 day moving average price of $262.37. The company has a market cap of $1.53 trillion, a PE ratio of 82.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its 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. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company's revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given 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 was Monday, September 22nd. Broadcom's dividend payout ratio is 60.20%.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares of the company's stock, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares of the company's stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AVGO shares. Bank of America upped their target price on shares of Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Rosenblatt Securities upped their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Friday, September 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Finally, Truist Financial upped their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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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