Adell Harriman & Carpenter Inc. Has $137.61 Million Stake in Broadcom Inc. $AVGO

Adell Harriman & Carpenter Inc. cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 499,221 shares of the semiconductor manufacturer’s stock after selling 39,431 shares during the period. Broadcom comprises approximately 9.1% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its largest holding. Adell Harriman & Carpenter Inc.’s holdings in Broadcom were worth $137,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. Vanguard Group Inc. lifted its position in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 last quarter. Nuveen LLC bought a new stake in Broadcom in the first quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock valued at $5,900,814,000 after purchasing an additional 842,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Broadcom by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock valued at $5,668,134,000 after buying an additional 1,043,948 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction dated 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 transaction, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This trade represents a 13.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction dated Wednesday, September 17th. The stock was 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. The trade was a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVGO shares. Truist Financial upped their price target on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 5th. KeyCorp set a $460.00 price objective on shares of Broadcom in a research note on Monday, October 13th. Weiss Ratings raised shares of Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Piper Sandler upped their price target on Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Finally, Argus upped their price target on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $372.52.

Broadcom Price Performance

AVGO stock opened at $351.94 on Wednesday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $386.48. The company has a market cap of $1.66 trillion, a P/E ratio of 89.78, a PEG ratio of 1.46 and a beta of 1.19. The firm has a 50-day moving average of $341.75 and a 200 day moving average of $286.75. 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 announced its earnings results 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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The business’s revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

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.