Broadcom Inc. $AVGO Shares Sold by Elk River Wealth Management LLC

Key Points

• Elk River Wealth Management LLC reduced its stake in Broadcom Inc. by 1.2%, selling 1,260 shares to hold a total of 105,898 shares, valued at approximately $29.2 million.
• Various institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., increased their stakes in Broadcom, showcasing strong institutional support for the company.
• Broadcom reported strong financial results, with a 22% year-over-year revenue increase to $15.95 billion and a quarterly earnings per share of $1.69, exceeding analyst expectations.

Elk River Wealth Management LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 105,898 shares of the semiconductor manufacturer's stock after selling 1,260 shares during the period. Broadcom makes up 5.0% of Elk River Wealth Management LLC's investment portfolio, making the stock its 5th biggest holding. Elk River Wealth Management LLC's holdings in Broadcom were worth $29,191,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the first quarter worth about $25,000. Cheviot Value Management LLC acquired a new position in Broadcom in the first quarter worth about $25,000. Inlight Wealth Management LLC acquired a new position in Broadcom in the first quarter worth about $26,000. Sawyer & Company Inc raised its position in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Finally, Sunbeam Capital Management LLC acquired a new position in Broadcom in the fourth quarter worth about $28,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Argus increased their price target on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. KeyCorp upped their price objective on shares of Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Finally, Benchmark upped their price objective on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $356.48.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction of $1,354,063.26. Following the transaction, the insider owned 25,295 shares in the company, valued at $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 714,172 shares worth $204,311,160. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 0.0%

AVGO stock traded down $0.12 during midday trading on Tuesday, hitting $338.67. The company's stock had a trading volume of 10,082,009 shares, compared to its average volume of 26,376,787. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The company's fifty day moving average price is $309.32 and its 200 day moving average price is $249.20. The stock has a market capitalization of $1.60 trillion, a P/E ratio of 86.59, a PEG ratio of 1.91 and a beta of 1.16.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid 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 payout ratio is currently 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.