DAVENPORT & Co LLC Sells 84 Shares of Broadcom Inc. $AVGO

DAVENPORT & Co LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 636,491 shares of the semiconductor manufacturer’s stock after selling 84 shares during the period. Broadcom accounts for approximately 1.0% of DAVENPORT & Co LLC’s holdings, making the stock its 18th biggest holding. DAVENPORT & Co LLC’s holdings in Broadcom were worth $174,605,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter worth about $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom in the 1st quarter worth about $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom in the 1st quarter worth about $26,000. Sawyer & Company Inc raised its position in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. purchased a new stake in Broadcom in the 2nd quarter worth about $28,000. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Hsbc Global Res raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 24th. Piper Sandler increased their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Saturday, September 6th. Barclays raised their target price on shares of Broadcom from $265.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $342.00 target price (up from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $357.22.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom 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 transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $324.63 on Friday. The firm has a market cap of $1.53 trillion, a price-to-earnings ratio of 82.81, a PEG ratio of 1.91 and a beta of 1.20. The company’s 50 day moving average is $322.64 and its 200 day moving average is $262.37. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) 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 net margin of 31.59% and a return on equity of 36.60%. Broadcom’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a dividend of $0.59 per share. 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 dividend payout ratio (DPR) is presently 60.20%.

Broadcom Company 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.