Broadcom Inc. $AVGO Shares Sold by Community Trust & Investment Co.

Key Points

• Community Trust & Investment Co. reduced its stake in Broadcom by 16.5% during the second quarter, ending with 208,012 shares valued at approximately $57 million.
• Several large investors increased their holdings in Broadcom, with Atticus Wealth Management increasing its stake by 142.6% in the same quarter.
• Broadcom's stock has a consensus rating of Buy with an average target price of $356.48, following multiple price target increases from research analysts.

Community Trust & Investment Co. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,012 shares of the semiconductor manufacturer's stock after selling 41,178 shares during the quarter. Broadcom comprises approximately 3.3% of Community Trust & Investment Co.'s portfolio, making the stock its 7th largest holding. Community Trust & Investment Co.'s holdings in Broadcom were worth $57,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sawyer & Company Inc grew its position in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the last quarter. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom during the 4th quarter worth $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom in the 4th quarter worth about $30,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the 1st quarter worth about $25,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of Broadcom in the 1st quarter worth about $25,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

NASDAQ AVGO traded up $4.05 during trading hours on Tuesday, hitting $342.84. The company had a trading volume of 6,027,616 shares, compared to its average volume of 26,351,529. The firm has a market cap of $1.62 trillion, a P/E ratio of 87.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16. 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 fifty-two week low of $138.10 and a fifty-two week high of $374.23. The business has a fifty day simple moving average of $309.32 and a 200-day simple moving average of $249.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 36.60% and a net margin of 31.59%.The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 714,172 shares valued at $204,311,160. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Sanford C. Bernstein increased their target price on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Benchmark upped their price target on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Evercore ISI reiterated an "outperform" rating and set a $342.00 target price (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $356.48.

Broadcom 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.