State of Alaska Department of Revenue Sells 20,741 Shares of Broadcom Inc. $AVGO

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Broadcom Inc. by selling 20,741 shares, lowering its stake by 3.2%, while still maintaining a total of 617,909 shares valued at approximately $170.3 million.
• Insider transactions include a notable sale of 16,558 shares by Mark David Brazeal and 7,498 shares by CFO Kirsten M. Spears, both occurring on September 17th, which led to a decrease in their respective ownership in the company.
• Broadcom recently announced a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7%, reflecting a dividend payout ratio of 60.20%.

State of Alaska Department of Revenue lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 617,909 shares of the semiconductor manufacturer's stock after selling 20,741 shares during the quarter. Broadcom accounts for 1.8% of State of Alaska Department of Revenue's investment portfolio, making the stock its 6th biggest position. State of Alaska Department of Revenue's holdings in Broadcom were worth $170,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sawyer & Company Inc lifted its stake 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. Legend Financial Advisors Inc. acquired a new position in shares of Broadcom during the second quarter worth about $28,000. Maseco LLP purchased a new stake in shares of Broadcom during the second quarter worth about $34,000. PFS Partners LLC increased its position in shares of Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 38 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom during the first quarter worth about $25,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 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 company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 target price on shares of Broadcom in a research report on Wednesday, August 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Evercore ISI reaffirmed an "outperform" rating and set a $342.00 target price (up from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Finally, KeyCorp lifted their target price on Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $356.48.

Broadcom Stock Down 2.0%

Shares of Broadcom stock opened at $327.90 on Tuesday. The firm has a market cap of $1.55 trillion, a P/E ratio of 83.65, a P/E/G ratio of 1.85 and a beta of 1.16. The business has a 50-day moving average price of $314.46 and a 200 day moving average price of $254.25. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The company 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 business's revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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