Pictet North America Advisors SA Trims Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Pictet North America Advisors SA reduced its stake in Broadcom Inc. by 7.2%, holding 23,079 shares valued at approximately $6.36 million after the sale of 1,778 shares in Q2.
• Insider trading activity included significant sales by CFO Kirsten M. Spears and CEO Hock E. Tan, with Spears selling 7,498 shares for about $2.61 million and Tan selling 100,000 shares for around $33.96 million.
• Broadcom announced a quarterly dividend of $0.59 per share, representing a 0.7% yield, with an ex-dividend date set for September 22nd.

Pictet North America Advisors SA decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,079 shares of the semiconductor manufacturer's stock after selling 1,778 shares during the quarter. Pictet North America Advisors SA's holdings in Broadcom were worth $6,362,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sawyer & Company Inc grew its position in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Waddell & Associates LLC grew its position in shares of Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares in the last quarter. Luts & Greenleigh Group Inc. grew its position in shares of Broadcom by 1.3% during the second quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after purchasing an additional 44 shares in the last quarter. Challenger Wealth Management grew its position in shares of Broadcom by 1.3% during the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after purchasing an additional 45 shares in the last quarter. Finally, High Net Worth Advisory Group LLC grew its position in shares of Broadcom by 1.7% during the second quarter. High Net Worth Advisory Group LLC now owns 2,671 shares of the semiconductor manufacturer's stock worth $736,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the sale, the chief executive officer directly owned 725,638 shares of the company's stock, valued at $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. Over the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 297,274 shares worth $101,002,814. Company insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $336.10 on Friday. The firm has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 85.74, a PEG ratio of 1.88 and a beta of 1.16. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The business has a 50 day simple moving average of $312.64 and a 200-day simple moving average of $251.49. 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 (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AVGO. Evercore ISI reiterated an "outperform" rating and set a $342.00 target price (up previously from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Benchmark raised their price target on Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a report on Friday, September 5th. Cowen restated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Piper Sandler raised their price target on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $356.48.

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.

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