Broadcom Inc. $AVGO Shares Sold by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC reduced its holdings in Broadcom Inc. by 6.6%, now owning 267,995 shares worth approximately $44.87 million.
• Broadcom reported a strong quarterly earnings performance, with an EPS of $1.58 and revenue of $15 billion, exceeding analyst expectations.
• The firm has announced a quarterly dividend of $0.59 per share, reflecting an annualized return of 0.8% and a payout ratio of 88.39%.

Cresset Asset Management LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 267,995 shares of the semiconductor manufacturer's stock after selling 18,856 shares during the period. Cresset Asset Management LLC's holdings in Broadcom were worth $44,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC grew its position in Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares in the last quarter. Fulton Breakefield Broenniman LLC raised its holdings in Broadcom by 2.4% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after buying an additional 50 shares during the period. American Financial Advisors LLC lifted its position in Broadcom by 3.8% in the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock worth $240,000 after buying an additional 52 shares during the last quarter. GS Investments Inc. increased its position in Broadcom by 0.5% during the first quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock valued at $1,908,000 after acquiring an additional 52 shares during the last quarter. Finally, FCA Corp TX raised its stake in shares of Broadcom by 0.5% in the first quarter. FCA Corp TX now owns 10,846 shares of the semiconductor manufacturer's stock valued at $1,816,000 after acquiring an additional 54 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of Broadcom stock traded down $10.85 during trading on Tuesday, hitting $294.91. 19,760,805 shares of the company's stock were exchanged, compared to its average volume of 26,091,482. The stock has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 110.45, a PEG ratio of 2.18 and a beta of 1.15. The business has a 50-day simple moving average of $279.50 and a 200-day simple moving average of $230.48. 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 quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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 revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider owned 789,784 shares in the company, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on AVGO. Benchmark upped their price target on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a report on Friday, June 6th. Arete Research raised Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Redburn Atlantic started coverage on Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective on the stock. Bank of America lifted their target price on Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $295.96.

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.