Cromwell Holdings LLC Acquires 2,697 Shares of Broadcom Inc. $AVGO

Key Points

• Cromwell Holdings LLC has increased its stake in Broadcom Inc. by 23.8%, now holding a total of 14,017 shares valued at approximately $3.86 million.
• Several institutional investors, such as Sawyer & Company Inc. and PFS Partners LLC, have also significantly increased their stakes, contributing to institutional ownership of 76.43% in Broadcom.
• Broadcom declared a quarterly dividend of $0.59 per share, with a dividend yield of 0.7% and a payout ratio of 60.20%.

Cromwell Holdings LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,017 shares of the semiconductor manufacturer's stock after buying an additional 2,697 shares during the quarter. Broadcom accounts for 2.3% of Cromwell Holdings LLC's investment portfolio, making the stock its 6th largest holding. Cromwell Holdings LLC's holdings in Broadcom were worth $3,864,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sawyer & Company Inc lifted its stake in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the period. PFS Partners LLC lifted its stake in Broadcom by 38.4% in the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 38 shares during the period. Waddell & Associates LLC raised its position in shares of Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares during the period. Luts & Greenleigh Group Inc. raised its position in shares of Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after purchasing an additional 44 shares during the period. Finally, Challenger Wealth Management raised its position in shares of Broadcom by 1.3% during the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after purchasing an additional 45 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 0.3%

Shares of NASDAQ:AVGO opened at $336.41 on Wednesday. The company has a market capitalization of $1.59 trillion, a PE ratio of 85.82, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The business has a fifty day moving average price of $320.03 and a two-hundred day moving average price of $259.78. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 60.20%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. UBS Group upped their target price on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Truist Financial upped their target price on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. TD Cowen upped their target price on Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Wells Fargo & Company upped their target price on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research report on Friday, September 5th. Finally, Morgan Stanley upped their target price on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $357.22.

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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