Adell Harriman & Carpenter Inc. Lowers Holdings in Broadcom Inc. $AVGO

Key Points

• Adell Harriman & Carpenter Inc. trimmed its Broadcom stake by 5.5% in the fourth quarter, but Broadcom remains its largest holding at 9.3% of assets, worth about $155.4 million.
• Broadcom insiders have been selling shares, including CFO Kirsten M. Spears and insider S. Ram Velaga, with total insider sales reaching 324,282 shares worth about $106.4 million over the last 90 days.
• The company continues to post strong operating results and upbeat AI-related outlook, beating quarterly EPS and revenue estimates, while analysts largely remain constructive with a consensus Moderate Buy rating and a $448.10 average price target.

Adell Harriman & Carpenter Inc. lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 448,941 shares of the semiconductor manufacturer's stock after selling 26,334 shares during the period. Broadcom makes up 9.3% of Adell Harriman & Carpenter Inc.'s holdings, making the stock its biggest holding. Adell Harriman & Carpenter Inc.'s holdings in Broadcom were worth $155,379,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Northbridge Financial Group LLC acquired a new stake in Broadcom in the fourth quarter valued at about $5,103,000. First Business Financial Services Inc. boosted its stake in Broadcom by 2.7% in the fourth quarter. First Business Financial Services Inc. now owns 37,823 shares of the semiconductor manufacturer's stock valued at $13,091,000 after buying an additional 988 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in Broadcom by 63.1% in the fourth quarter. Banque Cantonale Vaudoise now owns 216,637 shares of the semiconductor manufacturer's stock valued at $74,979,000 after buying an additional 83,808 shares in the last quarter. Hardy Reed LLC boosted its stake in Broadcom by 1.7% in the fourth quarter. Hardy Reed LLC now owns 13,480 shares of the semiconductor manufacturer's stock valued at $4,665,000 after buying an additional 231 shares in the last quarter. Finally, Fairtree Asset Management Pty Ltd boosted its stake in Broadcom by 82.4% in the fourth quarter. Fairtree Asset Management Pty Ltd now owns 9,185 shares of the semiconductor manufacturer's stock valued at $3,179,000 after buying an additional 4,150 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company's stock, valued at approximately $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider S. Ram Velaga sold 38,841 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider directly owned 96,147 shares in the company, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 in the last ninety days. Company insiders own 1.90% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $414.14 on Monday. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. Broadcom Inc. has a 52 week low of $226.18 and a 52 week high of $442.36. The business has a 50 day moving average price of $373.30 and a 200-day moving average price of $356.05. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The firm had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.60 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 9.91 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom's payout ratio is currently 50.78%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor business is showing rapid growth, with AI revenue more than doubling and stronger Q2 expectations tied to hyperscale demand. Broadcom Rides on Accelerating Semiconductor Revenues: What's Ahead?
• Positive Sentiment: Analysts continue to highlight Broadcom as one of Goldman Sachs’ strongest AI infrastructure bets, reinforcing optimism around its role in AI chips and networking. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets
• Positive Sentiment: Broadcom is expanding its AI ecosystem through a $125 million research and talent hub with Meta and UCLA, plus packaging work with Applied Materials, which could support long-term growth. Broadcom’s AI Research Push Links Chip Packaging Advances To Growth Story
• Positive Sentiment: Several articles and analyst notes point to strong long-term upside, with Broadcom repeatedly described as a durable AI winner and a solid growth stock. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Neutral Sentiment: Commentary about Broadcom’s stock price in 2030 reflects bullish long-term AI expectations, but it does not appear to be a near-term catalyst. This Will be Broadcom’s Stock Price In 2030
• Neutral Sentiment: Broader market commentary and inflation worries have also been mentioned, but these articles do not identify a Broadcom-specific problem. Inflation Fears Weighed on Broadcom (AVGO) in Q1
• Negative Sentiment: One recent note says Broadcom remains “overcrowded,” suggesting valuation or positioning risk after a strong rally. Broadcom Is Far Too Overcrowded
• Negative Sentiment: Broadcom has also faced some regulatory scrutiny in the EU, which could create headline risk even as AI sentiment stays positive. Broadcom Inc. (AVGO) Challenges EU Regulators While Barclays Sees AI Upside

Analyst Ratings Changes

AVGO has been the topic of several research analyst reports. Morgan Stanley lifted their price target on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research note on Friday, March 6th. DA Davidson raised Broadcom to a "hold" rating in a research note on Friday, February 13th. Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $448.10.

About Broadcom

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.

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