Capital Investment Counsel LLC Has $14.73 Million Position in Broadcom Inc. $AVGO

Key Points

• Capital Investment Counsel LLC reduced its stake in Broadcom Inc. by 13.2%, now owning 87,995 shares worth approximately $14.73 million.
• The company reported a 12-month revenue growth of 20.2% year-over-year, with quarterly earnings of $1.58 per share, exceeding analysts' expectations.
• Broadcom recently declared a quarterly dividend of $0.59 per share, representing an annualized payout ratio of 88.39% and a yield of 0.8%.

Capital Investment Counsel LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 87,995 shares of the semiconductor manufacturer's stock after selling 13,365 shares during the quarter. Broadcom accounts for approximately 2.4% of Capital Investment Counsel LLC's portfolio, making the stock its 4th largest holding. Capital Investment Counsel LLC's holdings in Broadcom were worth $14,733,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter worth about $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the 1st quarter worth about $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom in the 4th quarter worth about $30,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 3.6%

Shares of Broadcom stock opened at $297.39 on Monday. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $317.35. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 111.38, a PEG ratio of 2.11 and a beta of 1.16. 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 company's 50-day moving average price is $287.74 and its 200-day moving average price is $234.66.

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

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research analyst reports. Morgan Stanley set a $338.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a report on Wednesday, July 30th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Tuesday, June 24th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, Citigroup upped their price objective on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a report on Monday, July 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $301.79.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $307.46, for a total transaction of $245,968.00. Following the completion of the transaction, the director owned 23,782 shares in the company, valued at approximately $7,312,013.72. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 830,516 shares of company stock valued at $217,286,457. Company insiders own 2.00% of the company's stock.

Broadcom 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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