Vestmark Advisory Solutions Inc. Trims Holdings in Broadcom Inc. $AVGO

Vestmark Advisory Solutions Inc. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,178 shares of the semiconductor manufacturer’s stock after selling 9,351 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Broadcom were worth $23,204,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in Broadcom in the 1st quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Broadcom by 16.0% during the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after purchasing an additional 4,077,910 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO opened at $351.96 on Wednesday. The stock’s 50 day simple moving average is $347.20 and its 200 day simple moving average is $292.95. The stock has a market cap of $1.66 trillion, a P/E ratio of 89.79, a P/E/G ratio of 1.45 and a beta of 1.19. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $386.48. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s payout ratio is presently 60.20%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVGO. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Barclays set a $450.00 price target on shares of Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Truist Financial raised their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Oppenheimer reiterated an “outperform” rating and set a $360.00 target price (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Finally, Mizuho set a $435.00 price target on Broadcom and gave the company an “outperform” rating in a report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $372.52.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by 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.