Cornerstone Wealth Group LLC Sells 2,025 Shares of Broadcom Inc. $AVGO

Cornerstone Wealth Group LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,006 shares of the semiconductor manufacturer’s stock after selling 2,025 shares during the period. Broadcom makes up 1.8% of Cornerstone Wealth Group LLC’s holdings, making the stock its 9th biggest holding. Cornerstone Wealth Group LLC’s holdings in Broadcom were worth $27,548,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Foundry Financial LLC lifted its position in Broadcom by 7.5% during the first quarter. Foundry Financial LLC now owns 2,200 shares of the semiconductor manufacturer’s stock worth $681,000 after purchasing an additional 154 shares during the period. Citrine Capital LLC bought a new position in Broadcom in the 1st quarter valued at about $638,000. MFA Wealth Services increased its holdings in Broadcom by 1.6% in the 1st quarter. MFA Wealth Services now owns 4,201 shares of the semiconductor manufacturer’s stock valued at $1,300,000 after buying an additional 66 shares during the period. Trilogy Capital Inc. raised its position in shares of Broadcom by 12.4% in the 1st quarter. Trilogy Capital Inc. now owns 18,437 shares of the semiconductor manufacturer’s stock valued at $5,706,000 after buying an additional 2,030 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Broadcom by 32.8% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 580,017 shares of the semiconductor manufacturer’s stock worth $179,521,000 after acquiring an additional 143,364 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 1.4%

Shares of NASDAQ:AVGO opened at $377.75 on Wednesday. The firm has a market cap of $1.80 trillion, a P/E ratio of 62.96, a P/E/G ratio of 0.65 and a beta of 1.41. Broadcom Inc. has a 12-month low of $262.66 and a 12-month high of $495.00. The business has a fifty day simple moving average of $410.61 and a 200 day simple moving average of $362.60. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 EPS. Analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Bank of America boosted their price objective on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Royal Bank Of Canada raised their target price on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. Finally, Citigroup reiterated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Jefferies reiterated its Buy rating on Broadcom and kept a $550 price target, suggesting substantial upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Erste Group raised its earnings estimates for Broadcom, including higher FY2026 and FY2027 EPS forecasts, reinforcing the view that earnings growth remains strong. Broadcom estimate update
• Positive Sentiment: Coverage around Broadcom’s partnership with OpenAI on the Jalapeño AI accelerator continues to support the company’s AI growth story and long-term demand outlook. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several articles highlighted Broadcom’s recent weakness and “buy the dip” debate, indicating that investor sentiment is cautious but not turning bearish on fundamentals. Broadcom’s Stock Has Slumped Over 20% From Its Highs. These Experts Say They Would Buy the Dip
• Negative Sentiment: Reports of heavy insider selling over the past two weeks may weigh on sentiment, as investors often view large insider sales as a cautionary signal. Monster insider trading alert for Broadcom (AVGO) stock

Insiders Place Their Bets

In other news, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the transaction, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the transaction, the insider owned 787,184 shares in the company, valued at $271,759,532.32. This trade represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 59,385 shares of company stock valued at $21,301,057 over the last three months. Insiders own 1.90% of the company’s stock.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.