GKV Capital Management Co. Inc. Sells 4,030 Shares of Broadcom Inc. $AVGO

Key Points

• GKV Capital Management Co. Inc. has reduced its stake in Broadcom Inc. by 6.6%, selling 4,030 shares and currently holding 57,470 shares worth approximately $9.62 million.
• Broadcom recently reported a net income of $1.58 earnings per share, exceeding analysts' estimates, and recorded a revenue of $15 billion for the quarter.
• The company's quarterly dividend of $0.59 reflects an annualized dividend yield of 0.8%, with a payout ratio of 88.39%.

GKV Capital Management Co. Inc. cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,470 shares of the semiconductor manufacturer's stock after selling 4,030 shares during the period. Broadcom makes up 3.1% of GKV Capital Management Co. Inc.'s holdings, making the stock its 6th biggest holding. GKV Capital Management Co. Inc.'s holdings in Broadcom were worth $9,622,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom during the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom during the fourth quarter valued at about $30,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom during the first quarter valued at about $25,000. Cheviot Value Management LLC acquired a new stake in shares of Broadcom during the first quarter valued at about $25,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Broadcom during the first quarter valued at about $26,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at $85,066,115.49. This represents a 10.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on AVGO. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Wells Fargo & Company lifted their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. KeyCorp lifted their price objective on shares of Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley set a $338.00 price objective on shares of Broadcom and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average target price of $301.79.

Broadcom Stock Down 3.6%

Broadcom stock traded down $11.26 during trading on Monday, reaching $297.39. The stock had a trading volume of 21,581,160 shares, compared to its average volume of 17,630,644. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35. The business has a 50 day moving average price of $287.74 and a 200 day moving average price of $234.66. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.40 trillion, a PE ratio of 111.38, a P/E/G ratio of 2.11 and a beta of 1.16.

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

Broadcom Dividend Announcement

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

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.