Burney Co. Sells 7,004 Shares of Broadcom Inc. $AVGO

Burney Co. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,597 shares of the semiconductor manufacturer’s stock after selling 7,004 shares during the quarter. Broadcom makes up approximately 1.6% of Burney Co.’s investment portfolio, making the stock its 8th largest holding. Burney Co.’s holdings in Broadcom were worth $47,852,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC lifted its holdings in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the period. Leavell Investment Management Inc. grew its holdings in Broadcom by 11.9% in the 1st quarter. Leavell Investment Management Inc. now owns 19,978 shares of the semiconductor manufacturer’s stock valued at $3,345,000 after buying an additional 2,128 shares in the last quarter. Alps Advisors Inc. increased its position in Broadcom by 12.6% during the 1st quarter. Alps Advisors Inc. now owns 23,831 shares of the semiconductor manufacturer’s stock worth $3,990,000 after buying an additional 2,676 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Broadcom during the first quarter worth $35,000. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research reports. Wall Street Zen downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Rosenblatt Securities increased their target price on shares of Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. KeyCorp set a $460.00 target price on shares of Broadcom in a report on Monday, October 13th. Evercore ISI boosted their price target on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Finally, Truist Financial raised their price objective on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $372.52.

Broadcom Stock Performance

NASDAQ AVGO opened at $349.43 on Friday. The firm’s 50 day simple moving average is $344.91 and its 200 day simple moving average is $289.00. The firm has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 89.14, a P/E/G ratio of 1.43 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $386.48.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company’s quarterly revenue was up 22.0% on a year-over-year basis. 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. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s dividend payout ratio is currently 60.20%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the transaction, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by corporate 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.