Broadcom Inc. $AVGO Stock Purchased by ZWJ Investment Counsel Inc.

Posted by Francis Steltz on Oct 16th, 2026

ZWJ Investment Counsel Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 293,937 shares of the semiconductor manufacturer’s stock after buying an additional 3,936 shares during the quarter. Broadcom comprises approximately 2.9% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 10th biggest position. ZWJ Investment Counsel Inc.’s holdings in Broadcom were worth $103,228,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock worth $75,367,711,000 after purchasing an additional 16,651,378 shares during the period. Bank of America Corp DE raised its stake in Broadcom by 4.6% in the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock valued at $23,202,543,000 after purchasing an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP lifted its position in Broadcom by 3.8% during the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock worth $19,484,611,000 after purchasing an additional 1,892,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Broadcom by 2.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer’s stock worth $15,178,195,000 after purchasing an additional 1,140,598 shares during the period. Finally, Legal & General Group Plc bought a new stake in Broadcom during the second quarter worth about $11,998,148,000. 76.43% of the stock is currently owned by institutional investors.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

Positive Sentiment: Broadcom’s AI business remains a major growth driver. Reports highlight 221% growth in AI chip sales, strong demand for custom accelerators, and hyperscaler interest in alternatives to Nvidia’s higher-cost architecture. Some analysts believe Broadcom could benefit as AI spending broadens beyond Nvidia. Prediction: Broadcom Could Be the AI Winner After Nvidia
Positive Sentiment: Bullish coverage points to Broadcom’s combination of high-margin semiconductors, networking products, custom silicon, and recurring infrastructure software revenue. Supporters argue that weaker non-AI segments are masking strong execution and creating a long-term buying opportunity. I’m Simply Not Worried About Broadcom’s Multi-Segment Drag
Neutral Sentiment: Comparisons with Nvidia, Applied Materials, Marvell Technology, and SK Hynix emphasize Broadcom’s differentiated exposure to networking and custom AI chips, although SK Hynix recently showed stronger overall revenue momentum. These comparisons reinforce the investment debate rather than introduce a new company-specific catalyst. Broadcom vs. SK Hynix Revenue Trends
Negative Sentiment: Tan cautioned that AI investing is becoming “casino”-like and that investors may underestimate how difficult it will be for AI companies to earn returns as spending and financing costs rise. He warned that tighter capital availability could slow AI infrastructure expansion. Broadcom CEO Hock Tan Warning About Casino-Like Investing
Negative Sentiment: Investors are also examining potential off-balance-sheet financing and a reported $50 billion debt arrangement, increasing concern about leverage and counterparty risks if AI demand or customer returns weaken. Broadcom Off-Balance-Sheet Financing Risk
Negative Sentiment: Apple’s reported cuts to iPhone 18 Pro component orders raise questions about Broadcom’s smartphone-related sales, while the continuing technology sell-off is weighing on high-valuation AI stocks broadly. Apple Cut iPhone 18 Orders

Broadcom Price Performance

Broadcom stock opened at $344.33 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The stock has a market capitalization of $1.64 trillion, a P/E ratio of 43.98 and a beta of 1.46. The stock has a fifty day moving average of $366.31 and a 200-day moving average of $383.89.

Broadcom (NASDAQ:AVGO – Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. Broadcom’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.69 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s payout ratio is presently 33.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Broadcom from $525.00 to $540.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. UBS Group cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Piper Sandler assumed coverage on shares of Broadcom in a report on Wednesday, September 9th. They set an “overweight” rating and a $460.00 price target for the company. President Capital upped their price target on shares of Broadcom from $520.00 to $546.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Finally, Jefferies Financial Group started coverage on shares of Broadcom in a research report on Thursday, September 3rd. They set a “buy” rating and a $550.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $527.20.

Check Out Our Latest Stock Report on AVGO

About Broadcom

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company’s semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.