Gilliland Jeter Wealth Management LLC Has $3.08 Million Stake in Broadcom Inc. $AVGO

Key Points

• Gilliland Jeter Wealth Management LLC reduced its stake in Broadcom Inc. by 9.3% in Q2, now holding shares worth approximately $3.08 million.
• Broadcom's recent earnings exceeded expectations with a reported EPS of $1.69 and revenue of $15.95 billion, marking a 22% increase year-over-year.
• Analysts have updated their targets for Broadcom, with several firms setting price targets between $400 and $450 and assigning a "buy" rating.

Gilliland Jeter Wealth Management LLC trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,165 shares of the semiconductor manufacturer's stock after selling 1,149 shares during the quarter. Broadcom makes up about 1.0% of Gilliland Jeter Wealth Management LLC's portfolio, making the stock its 23rd largest holding. Gilliland Jeter Wealth Management LLC's holdings in Broadcom were worth $3,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AVGO. Vanguard Group Inc. increased its holdings in shares of Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after buying an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Broadcom by 37.8% in the 1st 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 purchasing an additional 17,985,046 shares in the last quarter. Nuveen LLC acquired a new position in Broadcom in the 1st quarter worth about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Broadcom by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after purchasing an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Broadcom by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after purchasing an additional 1,043,948 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 2.1%

NASDAQ AVGO opened at $351.33 on Thursday. The business has a 50 day simple moving average of $325.83 and a 200 day simple moving average of $266.04. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The stock has a market capitalization of $1.66 trillion, a P/E ratio of 89.63, a P/E/G ratio of 1.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 100,000 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the sale, the chief executive officer directly owned 725,638 shares in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 664,471 shares valued at $225,184,128. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVGO. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Broadcom and gave the company a "buy" rating in a research note on Tuesday. Morgan Stanley set a $409.00 price target on shares of Broadcom and gave the company an "overweight" rating in a research report on Tuesday. Argus upped their price target on shares of Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Barclays set a $450.00 price target on shares of Broadcom and gave the company an "overweight" rating in a research report on Tuesday. Finally, Rosenblatt Securities increased their price objective on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $372.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.