Broadcom Inc. $AVGO Stock Position Cut by Riverview Trust Co

Key Points

• Riverview Trust Co significantly reduced its stake in Broadcom Inc. by 44.6% during the 2nd quarter, leaving it with approximately 4,370 shares worth about $1.2 million.
• Analysts have been optimistic about Broadcom, with recent upgrades including a price target increase to $400.00 from Barclays and an average target of $357.22 from various analysts.
• Insider selling has occurred, with CEO Hock E. Tan selling over 148,000 shares, indicating shifts in ownership dynamics within the company.

Riverview Trust Co reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 44.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,370 shares of the semiconductor manufacturer's stock after selling 3,523 shares during the quarter. Broadcom accounts for about 1.5% of Riverview Trust Co's investment portfolio, making the stock its 10th largest holding. Riverview Trust Co's holdings in Broadcom were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Trust Co of Kansas acquired a new stake in Broadcom in the second quarter valued at $299,000. Wiser Wealth Management Inc increased its position in shares of Broadcom by 12.7% in the 2nd quarter. Wiser Wealth Management Inc now owns 1,937 shares of the semiconductor manufacturer's stock worth $534,000 after purchasing an additional 218 shares during the last quarter. Brookmont Capital Management raised its stake in shares of Broadcom by 9.9% in the 2nd quarter. Brookmont Capital Management now owns 1,315 shares of the semiconductor manufacturer's stock valued at $363,000 after purchasing an additional 118 shares in the last quarter. EWA LLC lifted its position in shares of Broadcom by 6.5% during the second quarter. EWA LLC now owns 7,522 shares of the semiconductor manufacturer's stock worth $2,073,000 after purchasing an additional 458 shares during the last quarter. Finally, Northstar Group Inc. grew its stake in Broadcom by 4.0% in the second quarter. Northstar Group Inc. now owns 2,934 shares of the semiconductor manufacturer's stock worth $809,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on AVGO shares. Arete Research upgraded Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Evercore ISI reissued an "outperform" rating and set a $342.00 price target (up from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Barclays lifted their price objective on shares of Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and a consensus price target of $357.22.

Broadcom Stock Performance

Shares of AVGO opened at $335.49 on Tuesday. The firm has a fifty day moving average of $319.25 and a 200-day moving average of $259.24. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.58, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is currently 60.20%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction on 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 in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. This represents a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company's stock.

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.

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