DAVENPORT 13F: Adds $29M to Broadcom (AVGO) Stake

Davenport added to its investment in Broadcom Inc. AVGO during the period, according to a Form 13F regulatory filing with the SEC published on October 14, 2026. Because 13F filings look backward at the previous quarter, these numbers reflect portfolio choices made during that window and might not match the firm's current holdings today.

What Changed in Davenport's Broadcom Position

Davenport boosted its position in Broadcom by 16.7%, picking up 81,024 more shares during the quarter. That move brought the firm's total ownership to 566,267 shares. The reported value of the stake stood at $199,302,563, up from its previous count of 485,243 shares.

Other Institutional Activity in Broadcom

Other major institutional managers made substantial moves in Broadcom around the same reporting period. Blackrock Inc. grew its holdings by 12,272,921 shares, ending with 398,213,826 shares worth about $130,912,795,297. Vanguard Capital Management LLC lifted its stake by 1,139,707 shares to finish with 309,168,582 shares valued at roughly $101,639,171,332. State Street Corporation grew its holdings by 5,511,990 shares, ending with 196,900,541 shares worth about $64,731,052,853. FMR, LLC raised its position by 20,243,298 shares to hold 144,359,173 shares valued at roughly $47,458,078,123. Meanwhile, Vanguard Portfolio Management LLC trimmed its stake by 1,425,540 shares, ending with 127,001,513 shares worth about $41,751,747,398.

Broadcom Inc. Stock Down 4.4%

Broadcom shares recently traded around $330.93 as of October 16, 2026. The stock's 52-week range spans from a low of $289.96 to a high of $495.00.

Recent Earnings

Broadcom reported trailing-twelve-month revenue of $89,103,998,976 alongside earnings of $7.59 per share. The company posted a net margin of 42.9% and a return on equity of 44.2%. Its next earnings report is scheduled for December 9, 2026.

Dividend

Broadcom pays an annual dividend with a dividend yield of 0.76% and a dividend payout ratio of 32.4%.

Insider Buying and Selling at Broadcom Inc.

Company insiders also transacted in Broadcom stock ahead of the filing. On June 29, 2026, director Justine F. Page sold 1,602 shares at an average price of $373.86 for a total value of $598,916. On July 8, 2026, director Gayla J Delly sold 1,890 shares at $385.38 each, totaling $728,368. On the same day, officer Mark David Brazeal sold 25,000 shares at $379.19 for $9,479,700. Later, on July 10, 2026, Mark David Brazeal sold another 25,000 shares at $401.33 for a total of $10,033,225.

Analysts Set New Price Targets

Wall Street analysts have updated their outlooks on the semiconductor firm. On September 3, 2026, Macquarie upgraded the stock to an outperform rating with a $490.00 price target. On the same day, Raymond James maintained its outperform rating while lifting its target to $475.00 from $450.00. On September 4, 2026, Citigroup maintained a buy rating and raised its target from $500.00 to $515.00. DA Davidson maintained a neutral rating on September 4, 2026, lowering its target from $400.00 to $350.00. Piper Sandler initiated coverage on September 10, 2026, with an overweight rating and a $460.00 price target. Overall, the company carries a consensus strong buy recommendation from 47 analysts, with a mean price target of $527.59.

About Broadcom

Broadcom Inc. designs, develops, and supplies a wide array of semiconductor devices and infrastructure software solutions around the globe. Operating through its semiconductor solutions and infrastructure software segments, the company plays a central role in modern networking and data infrastructure. Institutional interest remains high as the firm heads toward its upcoming December earnings release.

Bottom Line

Davenport's increased stake highlights ongoing institutional attention on Broadcom. Investors will monitor the company's upcoming earnings report on December 9, 2026, to gauge whether fundamentals continue to support these positions. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.