Broadcom Inc. $AVGO Shares Sold by GM Advisory Group LLC

Key Points

• GM Advisory Group LLC reduced its holdings in Broadcom Inc. by 3.9% in the first quarter, ending with 40,000 shares valued at approximately $6.7 million.
• Insider activity at Broadcom revealed significant sales, including CEO Hock E. Tan selling 40,000 shares for over $10.7 million, resulting in a 7.65% decrease in his ownership.
• Broadcom's stock recently opened at $294.91 with a market capitalization of $1.39 trillion, experiencing a 20.2% year-over-year revenue increase compared to the same quarter last year.

GM Advisory Group LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the semiconductor manufacturer's stock after selling 1,620 shares during the quarter. GM Advisory Group LLC's holdings in Broadcom were worth $6,697,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the first quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom in the first quarter worth $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom during the first quarter worth $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter worth about $30,000. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 800 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $307.46, for a total value of $245,968.00. Following the sale, the director owned 23,782 shares in the company, valued at $7,312,013.72. This represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the sale, the chief executive officer directly owned 482,836 shares in the company, valued at $129,540,070.44. The trade was a 7.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. 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. JPMorgan Chase & Co. boosted their price target on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Susquehanna raised their price objective on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus price target of $298.67.

Broadcom Stock Up 1.5%

Shares of NASDAQ AVGO traded up $4.40 during trading hours on Friday, hitting $294.00. 16,278,404 shares of the stock were exchanged, compared to its average volume of 17,508,776. The firm has a fifty day moving average price of $282.85 and a 200-day moving average price of $232.34. 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 12 month low of $134.90 and a 12 month high of $317.35. The company has a market cap of $1.38 trillion, a PE ratio of 110.11, a PEG ratio of 2.09 and a beta of 1.15.

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

Broadcom Announces Dividend

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

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.