Public Employees Retirement System of Ohio Has $550.25 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• The Public Employees Retirement System of Ohio reduced its position in Broadcom Inc. by 0.5%, holding 1,996,187 shares worth approximately $550.25 million.
• Insider selling occurred at Broadcom, with Charlie B. Kawwas and CFO Kirsten M. Spears both reducing their shares by 13.34% and 2.34%, respectively.
• Broadcom announced a quarterly dividend of $0.59 per share, with an ex-dividend date of September 22nd, representing an annualized yield of 0.7%.

Public Employees Retirement System of Ohio reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,996,187 shares of the semiconductor manufacturer's stock after selling 9,119 shares during the quarter. Broadcom makes up 1.9% of Public Employees Retirement System of Ohio's portfolio, making the stock its 6th largest holding. Public Employees Retirement System of Ohio's holdings in Broadcom were worth $550,249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 valued at $79,900,968,000 after acquiring an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Nuveen LLC bought a new position in shares of Broadcom during the first quarter valued at $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Broadcom by 2.4% during the first 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 valued at $5,900,814,000 after acquiring an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Broadcom by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock valued at $5,668,134,000 after acquiring an additional 1,043,948 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer owned 313,330 shares of the company's stock, valued at $108,932,307.80. The trade was a 2.34% 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 worth $1,227,869 and sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO stock opened at $334.53 on Friday. The stock has a 50-day moving average price of $313.66 and a 200 day moving average price of $252.49. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.34, a PEG ratio of 1.86 and a beta of 1.16. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23.

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

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AVGO shares. Evercore ISI restated an "outperform" rating and issued a $342.00 target price (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. KeyCorp raised their target price on Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Rosenblatt Securities raised their target price on Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. HSBC upgraded 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, Truist Financial raised their target price on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and an average target price of $356.48.

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.

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