Ascent Group LLC Sells 11,199 Shares of Broadcom Inc. $AVGO

Ascent Group LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 14.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,087 shares of the semiconductor manufacturer’s stock after selling 11,199 shares during the period. Ascent Group LLC’s holdings in Broadcom were worth $17,941,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the first quarter valued at about $25,000. Cheviot Value Management LLC acquired a new position in Broadcom in the first quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new position in Broadcom in the first quarter valued at about $26,000. Sawyer & Company Inc lifted its stake in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in Broadcom in the second quarter valued at about $28,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Henry Samueli sold 368,797 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director directly owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Arete Research upgraded Broadcom to a “strong-buy” rating in a report on Monday, July 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Broadcom in a report on Saturday, September 27th. Bank of America increased their price target on Broadcom from $300.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $360.00 price target (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $357.22.

Broadcom Stock Up 0.3%

NASDAQ:AVGO opened at $336.41 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company has a market cap of $1.59 trillion, a PE ratio of 85.82, a PEG ratio of 1.86 and a beta of 1.20. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The stock has a 50-day simple moving average of $320.03 and a 200 day simple moving average of $259.78.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

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.