Venturi Wealth Management LLC Decreases Stake in Broadcom Inc. $AVGO

Key Points

• Venturi Wealth Management LLC sold 6,653 shares of Broadcom, reducing its stake by 5.3% and holding a total of 119,055 shares, valued at approximately $32.8 million.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have increased their holdings in Broadcom, reflecting continued interest in the company.
• Wall Street analysts generally maintain a buy outlook on Broadcom, with a consensus price target of $357.22, following positive earnings results and growth forecasts.

Venturi Wealth Management LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 119,055 shares of the semiconductor manufacturer's stock after selling 6,653 shares during the quarter. Broadcom comprises 1.6% of Venturi Wealth Management LLC's investment portfolio, making the stock its 15th largest holding. Venturi Wealth Management LLC's holdings in Broadcom were worth $32,818,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Broadcom by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares during 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 acquiring an additional 17,985,046 shares during the last quarter. Nuveen LLC purchased a new stake 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 acquiring an additional 842,088 shares during 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 acquiring an additional 1,043,948 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AVGO. Benchmark lifted their price objective on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Morgan Stanley increased their price target on shares of Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Arete Research raised shares of Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. UBS Group boosted their price objective on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Finally, Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $357.22.

Broadcom Stock Down 5.9%

Shares of NASDAQ AVGO opened at $324.63 on Monday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 82.81, a PEG ratio of 1.80 and a beta of 1.20. The business has a 50-day moving average of $322.64 and a 200-day moving average of $263.58.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous 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 expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Insider Activity at Broadcom

In other Broadcom news, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was 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 directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 664,471 shares valued at $225,184,128. Company insiders own 2.00% of the company's stock.

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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