Phoenix Wealth Advisors Lowers Position in Broadcom Inc. $AVGO

Key Points

• Phoenix Wealth Advisors reduced its stake in Broadcom Inc. by 19.9% in the first quarter, selling 3,494 shares and holding a total of 14,034 shares valued at approximately $2.35 million.
• Several other institutional investors increased their positions in Broadcom during the same period, with Vanguard Group acquiring an additional 2,085,534 shares while Northern Trust Corp grew its stake by 12%.
• Broadcom recently announced a quarterly dividend payout of $0.59 per share, with a current dividend yield of 0.8% and a payout ratio of 88.39%.

Phoenix Wealth Advisors decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,034 shares of the semiconductor manufacturer's stock after selling 3,494 shares during the period. Phoenix Wealth Advisors' holdings in Broadcom were worth $2,350,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Waddell & Associates LLC boosted its position in shares of Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares during the period. True Wealth Design LLC boosted its position in shares of Broadcom by 7.2% during the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after purchasing an additional 48 shares during the period. Martingale Asset Management L P boosted its position in shares of Broadcom by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after purchasing an additional 48 shares during the period. Wescott Financial Advisory Group LLC boosted its position in shares of Broadcom by 3.8% during the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after purchasing an additional 48 shares during the period. Finally, Fulton Breakefield Broenniman LLC boosted its position in shares of Broadcom by 2.4% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock worth $357,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Up 1.3%

Shares of AVGO traded up $3.78 during midday trading on Tuesday, reaching $298.01. The stock had a trading volume of 25,637,191 shares, compared to its average volume of 25,813,398. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35. The company's fifty day simple moving average is $283.69 and its two-hundred day simple moving average is $232.83. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 111.61, a PEG ratio of 2.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors 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 dividend payout ratio (DPR) is currently 88.39%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Wall Street Zen lowered shares of Broadcom from a "buy" rating to a "hold" rating in a report on Monday. Morgan Stanley set a $338.00 target price on shares of Broadcom and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Bank of America increased their target price on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Three investment 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 presently has an average rating of "Buy" and a consensus target price of $300.96.

Broadcom Company 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.