Tocqueville Asset Management L.P. Reduces Stock Position in Broadcom Inc. $AVGO

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Broadcom Inc. by 5.1%, selling 7,724 shares, leaving it with a total of 144,642 shares valued at approximately $24 million.
• Multiple hedge funds have increased their investments in Broadcom, with institutional investors now owning 76.43% of the company's stock.
• Broadcom recently announced a quarterly dividend of $0.59 per share, contributing to an annualized dividend yield of 0.8%.

Tocqueville Asset Management L.P. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 144,642 shares of the semiconductor manufacturer's stock after selling 7,724 shares during the period. Tocqueville Asset Management L.P.'s holdings in Broadcom were worth $24,217,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AVGO. Vanguard Group Inc. boosted its stake in Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after buying an additional 5,258,925 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after buying an additional 15,171,849 shares in the last quarter. Nuveen LLC bought a new position in shares of Broadcom in the first quarter valued at $6,649,117,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after buying an additional 581,704 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. The trade was a 10.40% 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 90 days. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AVGO shares. Oppenheimer upped their price objective on shares of Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a research report on Friday, June 6th. Bank of America raised their price objective 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, KeyCorp boosted their price objective on shares of Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average price target of $295.96.

Broadcom Trading Down 3.5%

NASDAQ:AVGO traded down $10.85 during midday trading on Tuesday, reaching $294.91. 19,760,805 shares of the stock traded hands, compared to its average volume of 26,091,482. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. The stock has a market capitalization of $1.39 trillion, a P/E ratio of 110.45, a PEG ratio of 2.18 and a beta of 1.15. The company has a fifty day moving average of $279.50 and a 200 day moving average of $230.48.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the prior year, the business earned $10.96 EPS. The company's revenue for the quarter was up 20.2% on a year-over-year basis. Broadcom has set its Q3 2025 guidance at EPS. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio is 88.39%.

Broadcom 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.