Stock Yards Bank & Trust Co. Lowers Holdings in Broadcom Inc. $AVGO

Key Points

• Stock Yards Bank & Trust Co. reduced its stake in Broadcom Inc. by 1.1% in Q2, now holding 291,564 shares valued at approximately $80 million, making it the bank's 8th largest investment.
• Several institutional investors, including Vanguard and Price T Rowe Associates, have increased their holdings in Broadcom, showcasing strong institutional interest with 76.43% of the stock owned by such investors.
• Broadcom recently announced a quarterly dividend of $0.59 per share, representing an annualized dividend yield of 0.7%, with a payout ratio of 60.20%.

Stock Yards Bank & Trust Co. cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,564 shares of the semiconductor manufacturer's stock after selling 3,227 shares during the quarter. Broadcom accounts for about 2.7% of Stock Yards Bank & Trust Co.'s investment portfolio, making the stock its 8th largest holding. Stock Yards Bank & Trust Co.'s holdings in Broadcom were worth $80,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after buying an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD increased its position in 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 last quarter. Nuveen LLC bought a new stake in shares of Broadcom during the 1st quarter valued at about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Broadcom by 2.4% during 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 valued at $5,900,814,000 after purchasing an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Broadcom by 3.2% during the 1st 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 purchasing an additional 1,043,948 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction on 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 transaction, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVGO. TD Cowen raised their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Sanford C. Bernstein increased their price target on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Piper Sandler upped their price objective on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Weiss Ratings restated a "buy (b-)" rating on shares of Broadcom in a research note on Saturday, September 27th. Finally, Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Broadcom has an average rating of "Buy" and an average price target of $357.22.

Broadcom Price Performance

Broadcom stock opened at $336.41 on Wednesday. The company has a market cap of $1.59 trillion, a price-to-earnings ratio of 85.82, a PEG ratio of 1.86 and a beta of 1.20. The firm's fifty day moving average is $320.03 and its 200 day moving average is $259.78. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23.

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

Broadcom Announces Dividend

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

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.

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