Cigna Investments Inc. New Decreases Stock Holdings in Broadcom Inc. $AVGO

Cigna Investments Inc. New trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the 1st quarter, Holdings Channel reports. The firm owned 46,023 shares of the semiconductor manufacturer’s stock after selling 423 shares during the period. Broadcom comprises 1.4% of Cigna Investments Inc. New’s investment portfolio, making the stock its 9th biggest position. Cigna Investments Inc. New’s holdings in Broadcom were worth $7,706,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter valued at $30,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at $25,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at $26,000. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 830,516 shares of company stock worth $217,286,457. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $297.39 on Monday. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 111.38, a PEG ratio of 2.11 and a beta of 1.16. The firm has a fifty day simple moving average of $287.74 and a two-hundred day simple moving average of $234.66. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $14.98 billion. During the same period last year, the company posted $10.96 EPS. The business’s revenue was up 20.2% on a year-over-year basis. Broadcom has set its Q3 2025 guidance at EPS. On average, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AVGO. The Goldman Sachs Group restated a “buy” rating and set a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Mizuho raised their price objective on shares of Broadcom from $315.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. KeyCorp raised their target price 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. HSBC raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company raised their target price on shares of Broadcom from $230.00 to $255.00 and gave the company an “equal weight” rating in a research note on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $301.79.

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.