Allstate Corp Increases Holdings in Broadcom Inc. $AVGO

Key Points

• Allstate Corp more than doubled its Broadcom stake in the fourth quarter, boosting holdings by 109.8% to 341,510 shares valued at about $118.2 million. Broadcom is now Allstate’s 14th-largest position and makes up 1.6% of its portfolio.
• Broadcom continues to draw strong analyst support, with multiple firms maintaining Buy ratings and raising price targets. The consensus rating is Moderate Buy, with an average price target of $454.55.
• The company reported solid quarterly results, beating EPS and revenue expectations and posting 29.5% year-over-year revenue growth. Broadcom also recently paid a quarterly dividend of $0.65 per share.

Allstate Corp boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 109.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 341,510 shares of the semiconductor manufacturer's stock after acquiring an additional 178,735 shares during the quarter. Broadcom accounts for 1.6% of Allstate Corp's holdings, making the stock its 14th largest position. Allstate Corp's holdings in Broadcom were worth $118,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Miller Global Investments LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Family CFO Inc acquired a new stake in Broadcom in the fourth quarter valued at approximately $35,000. PayPay Securities Corp boosted its stake in shares of Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 56 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $45,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. TD Cowen reiterated a "buy" rating and set a $500.00 price objective (up from $405.00) on shares of Broadcom in a research report on Friday, May 15th. Benchmark reissued a "buy" rating and set a $485.00 price objective on shares of Broadcom in a research report on Thursday, March 5th. Bank of America cut their price objective on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Evercore reiterated an "outperform" rating and issued a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Finally, Truist Financial upped their price target on Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $454.55.

Broadcom Stock Up 4.7%

Shares of NASDAQ AVGO opened at $446.77 on Friday. The stock has a market cap of $2.12 trillion, a PE ratio of 87.26, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. 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 Inc. has a 52-week low of $234.90 and a 52-week high of $448.90. The business has a 50-day moving average price of $383.52 and a 200 day moving average price of $358.56.

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

Broadcom Announces Dividend

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

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares of the company's stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the transaction, the insider directly owned 57,932 shares of the company's stock, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 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 News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom continues to be highlighted as a key behind-the-scenes AI winner, with articles arguing its revenue and earnings could more than double between FY25 and FY27 as demand for AI infrastructure remains strong. Best AI Stocks to Buy in June and Hold Forever: AVGO
• Positive Sentiment: Broadcom was also named one of Claude AI’s top stock picks for 2026, reinforcing the market’s view that the company is a leading AI infrastructure play. Broadcom (AVGO) is Among Claude AI’s Top Stock Picks for 2026
• Positive Sentiment: Investor sentiment remains constructive after Broadcom unveiled new edge-AI networking silicon and a Samsung partnership for fixed wireless access, which could expand its footprint in next-gen connectivity. Broadcom's BCM68850 Boosts AVGO's Edge AI Push: More Upside Ahead?
• Positive Sentiment: Broadcom was featured in commentary from Jim Cramer and other market-watch articles emphasizing its custom chips for major hyperscalers and its strong long-term positioning in AI infrastructure. Jim Cramer Explains “Why We’ve Stuck With Broadcom”
• Neutral Sentiment: Several pieces noted that AVGO is one of the market’s most watched semiconductor names, with traders focusing on whether the recent rally can continue near resistance and ahead of upcoming earnings. Broadcom Inc. (AVGO) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: There was also some caution around the broader chip sector, with articles warning that the AI/silicon rally may be getting extended and could be vulnerable if growth expectations cool. What If Chip Stocks Aren't in a Supercycle After All?
• Negative Sentiment: Discovery Capital Management disclosed a sale of 83,200 Broadcom shares, a modest headwind that could signal some profit-taking by a large holder. Discovery Capital Management pares Broadcom stake, sells 83,200 shares

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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