Patriot Financial Group Insurance Agency LLC Increases Position in Broadcom Inc. $AVGO

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in Broadcom Inc. by 35.3% during the second quarter, holding 20,786 shares worth approximately $5.73 million.
• Broadcom received multiple ratings upgrades from analysts, with the average target price set at $357.22 and a consensus rating of "Buy."
• Insider sales at Broadcom were significant, with CEO Hock E. Tan selling over 148,154 shares for nearly $50 million, indicating a potential shift in insider confidence.

Patriot Financial Group Insurance Agency LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 35.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,786 shares of the semiconductor manufacturer's stock after acquiring an additional 5,419 shares during the period. Broadcom makes up about 0.7% of Patriot Financial Group Insurance Agency LLC's portfolio, making the stock its 28th biggest holding. Patriot Financial Group Insurance Agency LLC's holdings in Broadcom were worth $5,730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom in the first quarter worth about $25,000. Cheviot Value Management LLC acquired a new position in Broadcom in the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC purchased a new position in Broadcom during the 1st quarter worth approximately $26,000. Sawyer & Company Inc lifted its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom in the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. The Goldman Sachs Group reissued a "buy" rating and set a $340.00 target price on shares of Broadcom in a report on Wednesday, August 13th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Tuesday, June 24th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Citigroup raised their target price on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Truist Financial lifted their price target on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $357.22.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, 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 quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $335.49 on Tuesday. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.58, a PEG ratio of 1.87 and a beta of 1.20. The stock has a 50-day moving average of $319.25 and a 200 day moving average of $259.24. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is currently 60.20%.

About Broadcom

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.

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