Broadcom Inc. $AVGO is Wesbanco Bank Inc.'s 4th Largest Position

Key Points

• Wesbanco Bank Inc. reduced its stake in Broadcom Inc. by 1.8%, now holding 363,300 shares, which constitutes approximately 3.0% of its total holdings valued at $100 million.
• Several hedge funds have recently established new positions in Broadcom, with about 76.43% of the company's stock now owned by institutional investors.
• Broadcom's stock has received positive ratings from analysts, with target prices raised by multiple brokerages, reflecting strong market confidence and an average price target of $354.04.

Wesbanco Bank Inc. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 363,300 shares of the semiconductor manufacturer's stock after selling 6,739 shares during the period. Broadcom comprises approximately 3.0% of Wesbanco Bank Inc.'s investment portfolio, making the stock its 4th biggest holding. Wesbanco Bank Inc.'s holdings in Broadcom were worth $100,144,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC bought a new position in Broadcom in the first quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD raised its stake in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after buying an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AVGO shares. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Truist Financial boosted their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. The Goldman Sachs Group reissued a "buy" rating and set a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. Finally, Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Three equities 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 stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $356.48.

Broadcom Price Performance

AVGO stock traded up $4.22 during mid-day trading on Monday, reaching $364.09. The company's stock had a trading volume of 21,285,107 shares, compared to its average volume of 26,303,977. The stock has a market cap of $1.72 trillion, a PE ratio of 92.88, a P/E/G ratio of 1.99 and a beta of 1.16. The company has a current ratio of 1.50, a quick ratio of 1.37 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 company's 50 day moving average is $300.31 and its two-hundred day moving average is $242.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.59 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the completion of the sale, the director owned 23,782 shares in the company, valued at $7,312,013.72. This trade represents a 3.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director 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 acquired 3,550 shares of company stock worth $1,227,869 and have sold 850,112 shares worth $234,654,209. 2.00% of the stock is currently owned by corporate insiders.

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.