Broadcom Inc. $AVGO Shares Sold by Verity & Verity LLC

Key Points

• Verity & Verity LLC trimmed its Broadcom stake by 2.8% in the fourth quarter, but Broadcom remains its largest holding at 5.5% of the portfolio. The position was still valued at about $70.7 million at the end of the period.
• Broadcom posted strong quarterly results, reporting EPS of $2.44 on revenue of $22.19 billion, both slightly ahead of analyst expectations. Revenue jumped 47.9% year over year, and the company also announced a quarterly dividend of $0.65 per share.
• Wall Street remains broadly bullish on AVGO, with most analysts rating it a Buy and an average price target of $461.07. Recent updates included higher targets from JPMorgan and Wells Fargo, even as a few firms stayed neutral or downgraded the stock.

Verity & Verity LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,370 shares of the semiconductor manufacturer's stock after selling 5,888 shares during the period. Broadcom comprises about 5.5% of Verity & Verity LLC's portfolio, making the stock its biggest holding. Verity & Verity LLC's holdings in Broadcom were worth $70,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Norges Bank purchased a new stake in Broadcom in the 4th quarter worth $24,252,196,000. Arrowstreet Capital Limited Partnership lifted its holdings in Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after purchasing an additional 4,694,313 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Broadcom by 47.5% in the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock valued at $3,406,211,000 after purchasing an additional 3,160,586 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of Broadcom during the third quarter worth about $987,488,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVGO. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Susquehanna reaffirmed a "positive" rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $461.07.

Broadcom Trading Down 0.5%

Shares of AVGO stock opened at $479.23 on Thursday. Broadcom Inc. has a twelve month low of $241.11 and a twelve month high of $495.00. The stock has a market cap of $2.27 trillion, a price-to-earnings ratio of 93.60, a PEG ratio of 0.99 and a beta of 1.41. The company's 50-day moving average price is $392.87 and its 200-day moving average price is $361.19. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the previous year, the business posted $1.58 EPS. Broadcom's revenue was up 47.9% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.5%. Broadcom's payout ratio is currently 50.78%.

Insider Buying and Selling

In other news, insider S. Ram Velaga sold 8,000 shares of the company's 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 owned 57,932 shares of the company's stock, valued at $21,464,964.64. This represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the transaction, the director owned 32,352 shares of the company's stock, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by company insiders.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Deutsche Bank raised its price target on Broadcom to $515 from $430 and kept a Buy rating, signaling continued confidence after the earnings beat. Analysts set Broadcom stock price target
• Positive Sentiment: Broadcom said AI semiconductor revenue surged to $10.8 billion, up sharply year over year, and management highlighted accelerating AI demand and stronger expectations into 2027. Broadcom Q2 Earnings Call Spotlights AI Demand Surge
• Positive Sentiment: Revenue for the quarter reached a record $22.19 billion, EPS came in above estimates at $2.44, and the company also announced a quarterly dividend of $0.65 per share. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Neutral Sentiment: Broadcom’s third-quarter revenue guidance of about $29.4 billion was above consensus, but investors are still waiting for EPS details and more clarity on how much of the AI growth can persist. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Negative Sentiment: The stock dropped because quarterly revenue came in below Wall Street’s most aggressive expectations, raising concern that the market had priced in an even stronger AI boom. Broadcom tumbles as revenue miss clouds AI boom bets
• Negative Sentiment: Several reports said shares sold off in after-hours and premarket trading after the earnings release, as investors questioned whether the AI growth story was enough to justify the stock’s premium valuation. Broadcom revenue hits record on AI chip surge but outlook disappoints

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.