Broadcom Inc. $AVGO Stock Position Decreased by Wesbanco Bank Inc.

Wesbanco Bank Inc. lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 363,300 shares of the semiconductor manufacturer’s stock after selling 6,739 shares during the period. Broadcom accounts for about 3.0% of Wesbanco Bank Inc.’s holdings, making the stock its 4th largest holding. Wesbanco Bank Inc.’s holdings in Broadcom were worth $100,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom in the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter valued at $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom during the 4th quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Henry Samueli sold 473,898 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company’s stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 50,000 shares of the firm’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 850,912 shares worth $234,854,489. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on AVGO. JPMorgan Chase & Co. increased their target price on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Truist Financial increased 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Bank of America increased their target price on Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $354.04.

Broadcom Stock Performance

AVGO stock opened at $359.87 on Friday. The company has a market cap of $1.69 trillion, a P/E ratio of 91.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The stock’s fifty day moving average price is $300.31 and its 200-day moving average price is $242.19.

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

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom’s dividend payout ratio (DPR) is currently 60.20%.

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.