Fred Alger Management LLC Sells 397,999 Shares of Broadcom Inc. $AVGO

Fred Alger Management LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 13.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,457,742 shares of the semiconductor manufacturer’s stock after selling 397,999 shares during the period. Broadcom makes up about 2.3% of Fred Alger Management LLC’s investment portfolio, making the stock its 9th biggest position. Fred Alger Management LLC owned 0.05% of Broadcom worth $411,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC acquired a new position in Broadcom during the first quarter worth $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom during the first quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter worth about $30,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $334.89 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a 50 day simple moving average of $292.09 and a 200 day simple moving average of $237.38. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $356.34. The firm has a market cap of $1.58 trillion, a P/E ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion for 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 for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 60.20%.

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the sale, the chief financial officer directly owned 361,937 shares in the company, valued at $91,117,639.75. This trade represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider owned 789,784 shares in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,286,457 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on AVGO shares. Susquehanna lifted their price target on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a report on Friday, June 6th. Mizuho raised their price objective on shares of Broadcom from $320.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen boosted their target price on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Friday. KeyCorp increased their price target on Broadcom from $330.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Rosenblatt Securities raised their price target on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $351.00.

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.