Chevy Chase Trust Holdings LLC Has $765.47 Million Holdings in Broadcom Inc. $AVGO

Key Points

• Chevy Chase Trust Holdings LLC increased its holdings in Broadcom Inc. by 1.5% in Q2, resulting in ownership of approximately $765.47 million in shares.
• Recent insider trading showed CFO Kirsten M. Spears and CEO Hock E. Tan selling significant amounts of stock, decreasing their positions by 2.34% and 15.21%, respectively.
• Broadcom's stock has seen positive analyst coverage with target prices raised, including Piper Sandler's new target of $375.00 and Citigroup's increased target of $415.00.

Chevy Chase Trust Holdings LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,776,951 shares of the semiconductor manufacturer's stock after acquiring an additional 39,709 shares during the period. Broadcom makes up about 2.2% of Chevy Chase Trust Holdings LLC's investment portfolio, making the stock its 6th biggest position. Chevy Chase Trust Holdings LLC owned 0.06% of Broadcom worth $765,467,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arista Wealth Management LLC bought a new position in shares of Broadcom during the 2nd quarter worth about $7,502,000. Stratos Wealth Partners LTD. increased its position in shares of Broadcom by 11.2% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 212,859 shares of the semiconductor manufacturer's stock worth $58,675,000 after purchasing an additional 21,427 shares in the last quarter. Stratos Wealth Advisors LLC increased its position in shares of Broadcom by 8.0% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 8,352 shares of the semiconductor manufacturer's stock worth $2,302,000 after purchasing an additional 619 shares in the last quarter. Private Trust Co. NA increased its position in shares of Broadcom by 7.2% during the 2nd quarter. Private Trust Co. NA now owns 48,479 shares of the semiconductor manufacturer's stock worth $13,363,000 after purchasing an additional 3,262 shares in the last quarter. Finally, Angeles Wealth Management LLC increased its position in shares of Broadcom by 23.0% during the 2nd quarter. Angeles Wealth Management LLC now owns 19,329 shares of the semiconductor manufacturer's stock worth $5,328,000 after purchasing an additional 3,617 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVGO. Piper Sandler increased their target price on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Citigroup reiterated a "buy" rating and set a $415.00 target price (up previously from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Truist Financial increased their target price on shares of Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Morgan Stanley set a $409.00 target price on shares of Broadcom and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. Finally, Evercore ISI increased their target price on shares of Broadcom from $342.00 to $403.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $372.52.

Broadcom Stock Up 1.2%

Shares of NASDAQ AVGO opened at $344.29 on Friday. The firm has a market capitalization of $1.63 trillion, a PE ratio of 87.83, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm's 50-day moving average is $330.52 and its 200-day moving average is $273.74.

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

Broadcom Dividend Announcement

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

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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