Broadcom Inc. $AVGO Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,020 shares of the semiconductor manufacturer’s stock after selling 2,191 shares during the period. Patten & Patten Inc. TN’s holdings in Broadcom were worth $5,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. PARUS FINANCE UK Ltd grew its stake in Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock worth $16,840,000 after buying an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Broadcom by 27.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after buying an additional 13,978 shares during the last quarter. Asio Capital LLC grew its stake in Broadcom by 2.0% during the 2nd quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer’s stock worth $15,012,000 after buying an additional 1,089 shares during the last quarter. Keener Financial Planning LLC grew its stake in Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock worth $149,000 after buying an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC grew its stake in Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock worth $6,365,000 after buying an additional 2,016 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AVGO shares. Truist Financial upped their price objective on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Weiss Ratings cut Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Benchmark increased their price target on Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Arete Research raised Broadcom to a “strong-buy” rating in a research note on Monday, July 28th. Finally, Sanford C. Bernstein increased their price target on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $372.52.

Broadcom Trading Down 1.9%

Shares of AVGO stock opened at $342.66 on Wednesday. The stock has a 50-day simple moving average of $329.23 and a 200 day simple moving average of $271.96. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The stock has a market capitalization of $1.62 trillion, a P/E ratio of 87.41, a P/E/G ratio of 1.97 and a beta of 1.20. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

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

Broadcom Dividend Announcement

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

Broadcom Company Profile

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.