Corebridge Financial Inc. Has $231.32 Million Stake in Broadcom Inc. $AVGO

Key Points

• Corebridge Financial Inc. sold 51,047 shares of Broadcom Inc. during Q1, reducing its position by 3.6%, bringing its total ownership to 1,381,566 shares valued at approximately $231 million.
• Analysts generally hold a positive outlook on Broadcom, with multiple firms issuing buy ratings and price targets ranging from $298.67 to $400.00.
• Broadcom recently declared a quarterly dividend of $0.59, resulting in an annual yield of 0.8% and confirming the company's strong performance with a net margin of 22.64% for the last quarter.

Corebridge Financial Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,381,566 shares of the semiconductor manufacturer's stock after selling 51,047 shares during the quarter. Broadcom makes up approximately 1.3% of Corebridge Financial Inc.'s holdings, making the stock its 8th biggest holding. Corebridge Financial Inc.'s holdings in Broadcom were worth $231,316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sunbeam Capital Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the fourth quarter worth about $30,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at approximately $25,000. Cheviot Value Management LLC bought a new position in Broadcom in the 1st quarter valued at approximately $25,000. Finally, Inlight Wealth Management LLC bought a new position in Broadcom in the 1st quarter valued at approximately $26,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $2.24 during mid-day trading on Wednesday, reaching $300.25. 13,776,491 shares of the company's stock were exchanged, compared to its average volume of 18,096,018. The firm has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 112.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.15. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The firm has a 50-day moving average price of $284.66 and a two-hundred day moving average price of $233.28.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's payout ratio is presently 88.39%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AVGO shares. Wells Fargo & Company raised their price objective on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. UBS Group lifted their price target on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research report on Monday. Citigroup lifted their price target on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Rosenblatt Securities lifted their price target on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Evercore ISI reissued an "outperform" rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Broadcom has an average rating of "Buy" and an average price target of $300.96.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the sale, the chief financial officer owned 325,587 shares in the company, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,286,457. 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.