Patriot Financial Group Insurance Agency LLC Sells 2,585 Shares of Broadcom Inc. $AVGO

Patriot Financial Group Insurance Agency LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 12.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,201 shares of the semiconductor manufacturer’s stock after selling 2,585 shares during the period. Broadcom makes up 0.8% of Patriot Financial Group Insurance Agency LLC’s portfolio, making the stock its 27th largest holding. Patriot Financial Group Insurance Agency LLC’s holdings in Broadcom were worth $6,005,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in Broadcom during the second quarter valued at approximately $18,579,549,000. Vanguard Group Inc. raised its holdings in shares of Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after acquiring an additional 6,222,802 shares in the last quarter. Edgewood Management LLC bought a new position in shares of Broadcom during the 2nd quarter valued at approximately $1,571,438,000. Alliancebernstein L.P. grew its holdings in shares of Broadcom by 16.0% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock valued at $4,941,498,000 after purchasing an additional 4,077,910 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Broadcom by 115.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,017,340 shares of the semiconductor manufacturer’s stock worth $1,658,680,000 after purchasing an additional 3,224,739 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 3.2%

Shares of NASDAQ:AVGO opened at $340.36 on Friday. The firm has a market capitalization of $1.61 trillion, a PE ratio of 71.50, a price-to-earnings-growth ratio of 1.13 and a beta of 1.19. The business has a 50 day simple moving average of $362.98 and a two-hundred day simple moving average of $320.66. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.65 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s payout ratio is presently 49.58%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Truist raised its price target to $510 and kept a buy stance, signaling big upside vs. current levels. AVGO: Broadcom price target raised by Truist
• Positive Sentiment: Company beat expectations and issued AI-related revenue commentary (large AI/XPU and networking opportunity), supporting a growth story tied to data-center demand. Broadcom soars past expectations with blockbuster results
• Positive Sentiment: Unusual options activity: traders bought ~323,615 call contracts, well above average, indicating speculative/hedged bullish bets on near-term upside.
• Positive Sentiment: Broadcom raised its quarterly dividend ~10% (new quarterly payment $0.65) — a sign of strong cash flow and shareholder returns. Broadcom stock just raised its dividend by 10%
• Neutral Sentiment: High-profile bullish coverage and commentary (Wall Street lists and media pieces) are amplifying interest but also raising expectations. Here’s why Wall Street is bullish on Broadcom stock (AVGO)
• Neutral Sentiment: Jim Cramer publicly said he isn’t very worried about Broadcom, which can calm retail sentiment but is not a fundamental driver. Jim Cramer says he is not that worried about Broadcom
• Negative Sentiment: Several insiders (including senior execs) have sold shares in recent filings — a potential overhang for sentiment even if sales may be for diversification/liquidity. Charlie Kawwas Sells 1,235 Shares of Broadcom
• Negative Sentiment: Sharp recent sell-off (~20% from pre-earnings levels) has created volatility and forced short-term selling pressure despite analysts raising targets. Broadcom Stock Crashes 20%—But Wall Street Sees It Soaring to $500

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research reports. Macquarie began coverage on shares of Broadcom in a research report on Monday, September 15th. They set an “outperform” rating and a $420.00 price objective for the company. Oppenheimer upped their target price on shares of Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $475.00 price target (up previously from $400.00) on shares of Broadcom in a research report on Friday, December 12th. Barclays restated an “overweight” rating and set a $500.00 price objective (up from $450.00) on shares of Broadcom in a research report on Friday, December 12th. Finally, Morgan Stanley raised their price objective on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $436.33.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares in the company, valued at $246,412,152.04. This represents a 12.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 38,281 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the transaction, the insider directly owned 266,494 shares in the company, valued at approximately $87,316,759.10. This trade represents a 12.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 863,577 shares of company stock valued at $311,694,744. Company insiders own 2.00% of the company’s stock.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.