Patten Group Inc. Acquires 129 Shares of Broadcom Inc. $AVGO

Patten Group Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.4% during the second quarter, HoldingsChannel.com reports. The firm owned 35,929 shares of the semiconductor manufacturer’s stock after acquiring an additional 129 shares during the quarter. Broadcom makes up about 2.1% of Patten Group Inc.’s holdings, making the stock its 6th biggest holding. Patten Group Inc.’s holdings in Broadcom were worth $9,904,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AVGO. Sawyer & Company Inc lifted its stake in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Legend Financial Advisors Inc. bought a new position in Broadcom in the 2nd quarter valued at approximately $28,000. LGT Financial Advisors LLC bought a new position in Broadcom in the 2nd quarter valued at approximately $31,000. Maseco LLP bought a new position in Broadcom in the 2nd quarter valued at approximately $34,000. Finally, PFS Partners LLC lifted its stake in Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Weiss Ratings raised shares of Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Evercore ISI raised their price target on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Argus raised their price target on shares of Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Piper Sandler raised their price target on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Finally, Truist Financial raised their price target on shares of Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $372.52.

Broadcom Stock Performance

Shares of AVGO stock opened at $362.05 on Tuesday. The firm has a market cap of $1.71 trillion, a price-to-earnings ratio of 92.36, a P/E/G ratio of 1.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The firm’s 50-day simple moving average is $332.60 and its two-hundred day simple moving average is $277.81.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed 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 payout ratio is currently 60.20%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were 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 approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Insiders own 2.00% of the company’s stock.

Broadcom 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.