Dale Q Rice Investment Management Ltd Sells 800 Shares of Broadcom Inc. $AVGO

Key Points

• Dale Q Rice Investment Management Ltd reduced its holdings in Broadcom by 50% in Q2, selling 800 shares for a total value of $225,000.
• Several hedge funds increased their stakes in Broadcom, with Sawyer & Company Inc raising their position by 62.1%.
• Broadcom reported earnings of $1.69 per share, surpassing analysts' expectations, and achieved a revenue of $15.95 billion in the most recent quarter.

Dale Q Rice Investment Management Ltd trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 50.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 800 shares of the semiconductor manufacturer's stock after selling 800 shares during the period. Dale Q Rice Investment Management Ltd's holdings in Broadcom were worth $225,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sawyer & Company Inc raised its stake in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom during the 2nd quarter worth $28,000. Maseco LLP purchased a new stake in Broadcom in the 2nd quarter worth about $34,000. PFS Partners LLC increased its holdings in Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 38 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter worth about $25,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Barclays set a $450.00 price objective on Broadcom and gave the stock an "overweight" rating in a report on Tuesday, October 14th. Weiss Ratings lowered Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. 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. Morgan Stanley set a $409.00 price objective on Broadcom and gave the stock an "overweight" rating in a report on Tuesday, October 14th. Finally, Evercore ISI lifted their price objective on Broadcom from $342.00 to $403.00 and gave the stock an "outperform" rating in a report on Wednesday, October 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $372.52.

Broadcom Stock Up 1.2%

AVGO stock opened at $344.29 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.63 trillion, a PE ratio of 87.83, a PEG ratio of 1.92 and a beta of 1.20. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The stock has a 50-day simple moving average of $330.52 and a two-hundred day simple moving average of $273.74.

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

Broadcom Dividend Announcement

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

Insider Activity

In other news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. Insiders own 2.00% of the company's stock.

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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