Philadelphia Trust Co. Has $20.91 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Philadelphia Trust Co. reduced its stake in Broadcom Inc. by 17.5% in the first quarter, selling 26,507 shares and now holding 124,897 shares, valued at approximately $20.9 million.
• Several hedge funds made significant adjustments to their Broadcom positions, including GAMMA Investing, which increased its holdings by 18,179.3%, acquiring over 17 million shares.
• Broadcom is currently experiencing positive stock performance, with its shares trading around $306.34 and an annual dividend yield of 0.8%, alongside a strong earnings report that surpassed analysts' projections.

Philadelphia Trust Co. cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,897 shares of the semiconductor manufacturer's stock after selling 26,507 shares during the period. Broadcom comprises about 1.8% of Philadelphia Trust Co.'s investment portfolio, making the stock its 14th largest position. Philadelphia Trust Co.'s holdings in Broadcom were worth $20,912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of Broadcom by 16.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after acquiring an additional 31,225 shares during the period. Highview Capital Management LLC DE lifted its stake in shares of Broadcom by 1.3% during the fourth quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock valued at $5,917,000 after acquiring an additional 322 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $602,000. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Susquehanna upped their price objective on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. Cowen reiterated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Barclays upped their price objective on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Finally, Arete Research upgraded Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $295.96.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded down $10.85 during midday trading on Tuesday, hitting $294.91. 19,769,100 shares of the company's stock were exchanged, compared to its average volume of 26,119,195. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. The company's 50 day moving average price is $279.50 and its 200 day moving average price is $230.48. The firm has a market capitalization of $1.39 trillion, a PE ratio of 110.45, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the firm posted $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. As a group, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio is currently 88.39%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $307.46, for a total value of $245,968.00. Following the completion of the transaction, the director directly owned 23,782 shares of the company's stock, valued at $7,312,013.72. The trade was a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the transaction, the director directly owned 33,352 shares of the company's stock, valued at $8,842,615.76. This represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,286,457 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

About Broadcom

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.