Oliver Luxxe Assets LLC Sells 18,857 Shares of Broadcom Inc. $AVGO

Key Points

• Oliver Luxxe Assets LLC sold 18,857 shares of Broadcom Inc., reducing its position by 43.9%, leaving it with 24,104 shares valued at $4,036,000.
• Broadcom recently reported a quarterly earnings of $1.58 per share, exceeding analyst expectations, with revenues of $15 billion for the quarter, marking a 20.2% year-over-year increase.
• The company announced a quarterly dividend of $0.59 per share, with a dividend yield of 0.8%, reflecting a high payout ratio of 88.39%.

Oliver Luxxe Assets LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,104 shares of the semiconductor manufacturer's stock after selling 18,857 shares during the quarter. Oliver Luxxe Assets LLC's holdings in Broadcom were worth $4,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PARUS FINANCE UK Ltd lifted its position in shares of Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after buying an additional 64,038 shares in the last quarter. Nebula Research & Development LLC boosted its position in Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Keener Financial Planning LLC grew its stake in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after purchasing an additional 230 shares during the period. Diversify Wealth Management LLC raised its holdings in shares of Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares during the period. Finally, OMNI 360 Wealth Inc. grew its holdings in Broadcom by 51.6% during the first quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after purchasing an additional 1,014 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 1.5%

Shares of NASDAQ:AVGO opened at $294.00 on Friday. Broadcom Inc. has a one year low of $134.90 and a one year high of $317.35. The firm has a fifty day moving average price of $282.85 and a two-hundred day moving average price of $232.33. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a market cap of $1.38 trillion, a price-to-earnings ratio of 110.11, a PEG ratio of 2.06 and a beta of 1.15.

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

Broadcom Announces Dividend

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. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Sunday, August 17th. Evercore ISI reissued an "outperform" rating and issued a $304.00 price objective (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Susquehanna boosted their price objective on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $298.67.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 36,350 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the transaction, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were 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. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,286,457 in the last three months. 2.00% of the stock is owned by insiders.

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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