Dakota Wealth Management Sells 104,255 Shares of Broadcom Inc. $AVGO

Key Points

• Dakota Wealth Management reduced its stake in Broadcom Inc. by 43.7%, selling 104,255 shares to own a total of 134,077 shares worth approximately $36.96 million.
• Other institutional investors like Vanguard Group and Price T Rowe Associates have increased their holdings in Broadcom, with 76.43% of the stock currently owned by institutional investors.
• Broadcom recently declared a quarterly dividend of $0.59 per share, representing a 0.7% dividend yield with a payout ratio of 60.20%.

Dakota Wealth Management cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 43.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,077 shares of the semiconductor manufacturer's stock after selling 104,255 shares during the period. Broadcom comprises approximately 0.8% of Dakota Wealth Management's investment portfolio, making the stock its 24th largest holding. Dakota Wealth Management's holdings in Broadcom were worth $36,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after acquiring an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. Nuveen LLC bought a new stake in shares of Broadcom during the 1st quarter worth $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Broadcom by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after purchasing an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Broadcom by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after purchasing an additional 1,043,948 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Down 0.5%

Shares of AVGO opened at $334.53 on Friday. The business's 50-day moving average price is $313.66 and its 200-day moving average price is $252.89. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The stock has a market cap of $1.58 trillion, a PE ratio of 85.34, a P/E/G ratio of 1.85 and a beta of 1.16. 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 announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same period in the prior year, the business posted $1.24 earnings per share. The company's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AVGO shares. KeyCorp lifted their target price on Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Rosenblatt Securities lifted their target price on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Finally, Truist Financial lifted their price objective on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $356.48.

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.

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