Broadcom Inc. $AVGO Shares Sold by United Asset Strategies Inc.

Key Points

• United Asset Strategies Inc. has reduced its holdings in Broadcom Inc. by 34.8%, now owning 10,508 shares valued at approximately $1.76 million.
• Analysts have set new price targets for Broadcom, with Oppenheimer raising theirs to $305, while Morgan Stanley set theirs at $338, indicating a positive outlook on the stock.
• Insider trading activity saw CFO Kirsten M. Spears sell over 56,000 shares for about $14.2 million, reflecting a 13.46% decrease in her holdings.

United Asset Strategies Inc. decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 34.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,508 shares of the semiconductor manufacturer's stock after selling 5,611 shares during the quarter. United Asset Strategies Inc.'s holdings in Broadcom were worth $1,759,000 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 shares of Broadcom during the 1st quarter worth about $25,000. Cheviot Value Management LLC acquired a new position in Broadcom in the first quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new position in Broadcom during the first quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom during the fourth quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Oppenheimer upped their price objective on shares of Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley set a $338.00 target price on Broadcom and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Bank of America lifted their price objective on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of "Buy" and an average target price of $295.96.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the sale, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,286,457 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 1.3%

NASDAQ:AVGO opened at $291.17 on Thursday. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $317.35. The firm has a market cap of $1.37 trillion, a PE ratio of 109.05, a price-to-earnings-growth ratio of 2.10 and a beta of 1.15. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average price of $281.27 and a 200 day moving average price of $231.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.Broadcom's revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is 88.39%.

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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