EP Wealth Advisors LLC Cuts Stock Holdings in Broadcom Inc. $AVGO

Key Points

• EP Wealth Advisors LLC has reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the first quarter, leaving it with 879,535 shares valued at approximately $147.3 million.
• Other institutional investors, such as Nuveen LLC and Price T Rowe Associates Inc., have significantly increased their positions in Broadcom, reflecting a mixed sentiment among investors.
• Broadcom's stock is currently valued at $297.39 and had a 3.6% decrease recently, while the company reported a 20.2% year-over-year revenue increase for the last quarter.

EP Wealth Advisors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 879,535 shares of the semiconductor manufacturer's stock after selling 22,757 shares during the period. Broadcom accounts for about 1.2% of EP Wealth Advisors LLC's portfolio, making the stock its 21st largest position. EP Wealth Advisors LLC's holdings in Broadcom were worth $147,261,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Nuveen LLC purchased a new position in Broadcom during the 1st quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD increased its position in 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 valued at $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. GAMMA Investing LLC increased its position in Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after purchasing an additional 17,181,652 shares during the period. Goldman Sachs Group Inc. increased its position in Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after purchasing an additional 4,550,647 shares during the period. Finally, Deutsche Bank AG increased its position in Broadcom by 36.9% during the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 3.6%

AVGO stock opened at $297.39 on Tuesday. The firm has a 50 day moving average of $288.61 and a 200 day moving average of $235.11. The stock has a market capitalization of $1.40 trillion, a PE ratio of 111.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the business earned $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 40,000 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares in the company, valued at $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 830,516 shares of company stock valued at $217,286,457. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AVGO. The Goldman Sachs Group restated a "buy" rating and issued a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. Barclays raised their price target on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Morgan Stanley set a $338.00 price target on shares of Broadcom and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Evercore ISI restated an "outperform" rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $301.79.

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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