Broadcom Inc. $AVGO Shares Sold by Sterling Investment Counsel LLC

Key Points

• Sterling Investment Counsel LLC reduced its position in Broadcom Inc. by 60.5%, selling 3,688 shares during the second quarter, leaving them with 2,412 shares valued at approximately $665,000.
• Insider trades have shown significant activity, with Director Henry Samueli selling 368,797 shares and CEO Hock E. Tan selling 100,000 shares, indicating a potential shift in executive confidence in the company's stock.
• Broadcom's shares recently opened at $336.41, with strong growth reflected in its Q4 earnings guidance and a price target increase by analysts, suggesting bullish sentiment surrounding the stock.

Sterling Investment Counsel LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 60.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,412 shares of the semiconductor manufacturer's stock after selling 3,688 shares during the period. Sterling Investment Counsel LLC's holdings in Broadcom were worth $665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Broadcom by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Nuveen LLC purchased a new position in shares of Broadcom during the 1st quarter worth about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Broadcom by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after acquiring an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Broadcom by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after acquiring an additional 1,043,948 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Henry Samueli sold 368,797 shares of the firm's stock in a transaction that occurred on 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 trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares of the company's stock, valued at $246,412,152.04. The trade was a 12.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. Insiders own 2.00% of the company's stock.

Broadcom Stock Up 0.3%

Shares of NASDAQ:AVGO opened at $336.41 on Wednesday. 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 Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a 50 day moving average of $320.03 and a two-hundred day moving average of $259.78. The company has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 85.82, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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 the consensus estimate of $15.82 billion. During the same quarter last year, the company earned $1.24 earnings per share. Broadcom's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Rosenblatt Securities increased their price objective on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Finally, Citigroup increased their price objective on shares of Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $357.22.

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.

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