Fox Hill Wealth Management Reduces Holdings in Broadcom Inc. $AVGO

Key Points

• Fox Hill Wealth Management has reduced its holdings in Broadcom Inc. by 18.2%, owning 6,031 shares valued at $1,663,000 after selling 1,343 shares in the 2nd quarter.
• Notably, several other institutional investors increased their stakes in Broadcom, with Nuveen LLC acquiring a new stake valued at approximately $6.65 billion in the 1st quarter.
• Broadcom recently announced a quarterly dividend of $0.59 per share, which will be paid on September 30th, representing a 0.7% yield.

Fox Hill Wealth Management reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,031 shares of the semiconductor manufacturer's stock after selling 1,343 shares during the quarter. Fox Hill Wealth Management's holdings in Broadcom were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AVGO. Nuveen LLC acquired a new stake in shares of Broadcom during the 1st quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD boosted 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 last quarter. GAMMA Investing LLC boosted its stake in shares of Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Broadcom by 36.9% during the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction that occurred on Monday, June 23rd. The shares were 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 of the company's stock, valued at $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 850,112 shares valued at $234,654,209. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 0.1%

Shares of AVGO stock opened at $359.87 on Monday. The stock has a market cap of $1.70 trillion, a price-to-earnings ratio of 91.80, a price-to-earnings-growth ratio of 1.99 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 Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The firm's 50 day moving average price is $300.31 and its two-hundred day moving average price is $242.50.

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 analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom's revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given 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 is Monday, September 22nd. Broadcom's payout ratio is 60.20%.

Analyst Ratings Changes

Several research firms have issued reports on AVGO. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Rosenblatt Securities raised their target price on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Benchmark raised their target price on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $354.04.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.