Cullen Investment Group LTD. Has $23.20 Million Stake in Broadcom Inc. $AVGO

Key Points

• Cullen Investment Group LTD. has increased its stake in Broadcom Inc. by 3.4%, owning 84,170 shares, which are valued at approximately $23.2 million.
• In the past three months, Broadcom insiders sold more than 850,000 shares while acquiring a mere 3,550 shares, reflecting significant insider selling during that period.
• Broadcom recently announced a quarterly dividend of $0.59 per share, which will be paid on September 30th, representing a 0.7% yield.

Cullen Investment Group LTD. grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,170 shares of the semiconductor manufacturer's stock after purchasing an additional 2,804 shares during the period. Broadcom makes up about 3.3% of Cullen Investment Group LTD.'s portfolio, making the stock its 7th biggest position. Cullen Investment Group LTD.'s holdings in Broadcom were worth $23,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at approximately $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at approximately $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $30,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was 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 $105,353,335.68. This trade represents a 10.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares in the company, valued at $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 850,912 shares worth $234,854,489. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. Piper Sandler increased their price target on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Rosenblatt Securities increased their price target on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Barclays increased their price target on Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Finally, Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and a consensus target price of $354.04.

Broadcom Trading Up 0.1%

AVGO opened at $359.87 on Friday. The stock's fifty day moving average is $300.31 and its two-hundred day moving average is $241.98. The company has a market capitalization of $1.69 trillion, a P/E ratio of 91.80, a PEG ratio of 1.99 and a beta of 1.16. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for 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%.Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the business posted $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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Broadcom Company 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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