Hartford Investment Management Co. Sells 2,360 Shares of Broadcom Inc. $AVGO

Key Points

• Hartford Investment Management Co. reduced its stake in Broadcom Inc. by 0.8%, selling 2,360 shares to hold a total of 283,658 shares, valued at approximately $78.19 million.
• Insider transactions included the sale of 368,797 shares by Director Henry Samueli and 100,000 shares by CEO Hock E. Tan, reflecting significant decreases in their ownership stakes.
• Several analysts have recently upgraded Broadcom's price targets to $400, indicating strong market confidence, with the stock receiving mostly "Buy" ratings.

Hartford Investment Management Co. decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 283,658 shares of the semiconductor manufacturer's stock after selling 2,360 shares during the quarter. Broadcom comprises about 2.5% of Hartford Investment Management Co.'s investment portfolio, making the stock its 6th biggest position. Hartford Investment Management Co.'s holdings in Broadcom were worth $78,190,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom during the first quarter worth $25,000. Cheviot Value Management LLC acquired a new position in Broadcom in the first quarter valued at $25,000. Inlight Wealth Management LLC acquired a new position in Broadcom in the first quarter valued at $26,000. Sawyer & Company Inc boosted its holdings in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 36 shares during the last quarter. Finally, Wood Tarver Financial Group LLC boosted its holdings in Broadcom by 342.5% in the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director directly owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on AVGO shares. Morgan Stanley lifted their target price on Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Rosenblatt Securities lifted their target price on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. JPMorgan Chase & Co. lifted their target price on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Barclays lifted their target price on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, KeyCorp lifted their target price on Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $356.48.

Broadcom Trading Down 0.5%

NASDAQ:AVGO opened at $334.53 on Monday. The business's 50-day moving average is $313.66 and its two-hundred day moving average is $253.32. 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 12 month low of $138.10 and a 12 month high of $374.23. The firm has a market capitalization of $1.58 trillion, a PE ratio of 85.34, a price-to-earnings-growth ratio of 1.85 and a beta of 1.16.

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

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

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.

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