Segment Wealth Management LLC reduced its Broadcom stake by 2.3% during the third quarter, selling 4,291 shares and ending the period with 184,981 shares—its third-largest holding at 3.7% of the fund’s assets and valued at $61.0 million. HM Payson & Co. trimmed its position by 5.0%, offloading 68,968 shares to hold 1,306,739 shares worth $431.1 million, also making Broadcom its third-largest position at 6.2% of the portfolio. Encompass More Asset Management cut its stake by 82.3%, selling 3,633 shares and retaining just 783 shares valued at $258,000. Overall, institutional ownership remains high at 76.43% of shares outstanding.

A consensus ‘Buy’ rating surrounds Broadcom, with three firms advocating Strong Buy and twenty-nine issuing Buy recommendations. Truist Financial and Bank of America both reiterated buy ratings and raised their year-ahead targets, while Raymond James maintained an outperform stance. Wells Fargo continues to assign an equal-weight rating. These updates reflect optimism around Broadcom’s secular growth drivers in enterprise networking and data center markets.

Broadcom insiders have sold a combined 650,701 shares over the past 90 days, totaling approximately $239 million in proceeds. CFO Kirsten M. Spears disposed of 3,714 shares, reducing her holdings by 1.19%, while Mark David Brazeal sold 38,281 shares, a 12.56% decline in his position. Company insiders now own 2.00% of the outstanding share base, following these latest sales.

In its latest quarter, Broadcom reported revenue of $18.02 billion, up 28.2% year-over-year, and non-GAAP EPS of $1.95, beating consensus by $0.08. The company’s net margin stood at 36.2% and return on equity at 37.5%. Broadcom also announced a quarterly dividend of $0.65 per share, a 10% increase from the prior payout, representing an annualized yield of 0.7% and a payout ratio of 54.6%.