Hartford Funds Management Co LLC Has $5.09 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Hartford Funds Management boosted its Broadcom stake by 58.8% in the fourth quarter, ending with 14,706 shares valued at about $5.09 million. Broadcom is now its 15th-largest holding and makes up roughly 0.4% of the portfolio.
• Broadcom’s recent results were strong: the company posted earnings of $2.05 per share, slightly ahead of estimates, on revenue of $19.31 billion. Revenue rose 29.5% year over year, reinforcing optimism around its semiconductor business and AI-related growth.
• Insider selling continued, with executives Charlie B. Kawwas and S. Ram Velaga both selling large blocks of shares in March. Across the last three months, insiders sold 324,282 shares worth about $106.4 million.

Hartford Funds Management Co LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 58.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,706 shares of the semiconductor manufacturer's stock after buying an additional 5,444 shares during the quarter. Broadcom comprises about 0.4% of Hartford Funds Management Co LLC's portfolio, making the stock its 15th biggest position. Hartford Funds Management Co LLC's holdings in Broadcom were worth $5,091,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Providence First Trust Co increased its holdings in Broadcom by 1,099.3% during the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer's stock worth $2,944,000 after purchasing an additional 8,179 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Broadcom by 3.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer's stock worth $109,492,000 after purchasing an additional 10,786 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock worth $25,539,000 after purchasing an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. increased its holdings in Broadcom by 2.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock worth $57,325,000 after purchasing an additional 4,442 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc increased its holdings in Broadcom by 248.2% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer's stock worth $8,603,000 after purchasing an additional 18,703 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 39,116 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares of the company's stock, valued at $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider directly owned 96,147 shares of the company's stock, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 324,282 shares of company stock valued at $106,425,249. Insiders own 1.90% of the company's stock.

Broadcom Stock Performance

AVGO stock opened at $414.14 on Friday. The firm has a market cap of $1.96 trillion, a PE ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average of $373.30 and a 200-day moving average of $356.09. Broadcom Inc. has a 12-month low of $226.18 and a 12-month high of $442.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom's dividend payout ratio is currently 50.78%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor business is showing rapid growth, with AI revenue more than doubling and stronger Q2 expectations tied to hyperscale demand. Broadcom Rides on Accelerating Semiconductor Revenues: What's Ahead?
• Positive Sentiment: Analysts continue to highlight Broadcom as one of Goldman Sachs’ strongest AI infrastructure bets, reinforcing optimism around its role in AI chips and networking. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets
• Positive Sentiment: Broadcom is expanding its AI ecosystem through a $125 million research and talent hub with Meta and UCLA, plus packaging work with Applied Materials, which could support long-term growth. Broadcom’s AI Research Push Links Chip Packaging Advances To Growth Story
• Positive Sentiment: Several articles and analyst notes point to strong long-term upside, with Broadcom repeatedly described as a durable AI winner and a solid growth stock. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Neutral Sentiment: Commentary about Broadcom’s stock price in 2030 reflects bullish long-term AI expectations, but it does not appear to be a near-term catalyst. This Will be Broadcom’s Stock Price In 2030
• Neutral Sentiment: Broader market commentary and inflation worries have also been mentioned, but these articles do not identify a Broadcom-specific problem. Inflation Fears Weighed on Broadcom (AVGO) in Q1
• Negative Sentiment: One recent note says Broadcom remains “overcrowded,” suggesting valuation or positioning risk after a strong rally. Broadcom Is Far Too Overcrowded
• Negative Sentiment: Broadcom has also faced some regulatory scrutiny in the EU, which could create headline risk even as AI sentiment stays positive. Broadcom Inc. (AVGO) Challenges EU Regulators While Barclays Sees AI Upside

Wall Street Analysts Forecast Growth

A number of analysts have commented on AVGO shares. TD Cowen reissued a "buy" rating and set a $500.00 price objective (up from $405.00) on shares of Broadcom in a report on Friday, May 15th. Truist Financial boosted their price objective on Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Royal Bank Of Canada decreased their price objective on Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a report on Monday, March 2nd. Finally, Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday. One 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 company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $448.10.

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.

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