Adell Harriman & Carpenter Inc. Has $136.22 Million Position in Broadcom Inc. $AVGO

Adell Harriman & Carpenter Inc. lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 440,110 shares of the semiconductor manufacturer’s stock after selling 8,831 shares during the period. Broadcom comprises about 8.3% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its largest position. Adell Harriman & Carpenter Inc.’s holdings in Broadcom were worth $136,218,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AVGO. Norges Bank bought a new position in shares of Broadcom in the fourth quarter valued at approximately $24,252,196,000. Cardano Risk Management B.V. grew its position in shares of Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after purchasing an additional 11,414,701 shares in the last quarter. State Street Corp increased its holdings in shares of Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Vanguard Group Inc. raised its position in shares of Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Broadcom by 47.5% in the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after buying an additional 3,160,586 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,644 shares of company stock worth $24,016,214 in the last 90 days. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVGO. KeyCorp restated an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Broadcom Stock Performance

Shares of AVGO opened at $370.83 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.76 trillion, a P/E ratio of 61.81, a P/E/G ratio of 0.66 and a beta of 1.45. The business’s 50 day moving average price is $401.29 and its 200-day moving average price is $365.31. Broadcom Inc. has a 52 week low of $273.00 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter last year, the company earned $1.58 EPS. Equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Broadcom Profile

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.