Patten Group Inc. Has $11.53 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Patten Group Inc. trimmed its stake in Broadcom by 6.6% to 33,314 shares, worth about $11.53 million, representing 2.1% of its portfolio and the firm's 7th largest holding.
• Broadcom is being positioned as a core AI infrastructure play after multi-year deals with hyperscalers (Meta, Google, Anthropic), and analysts are largely positive with a consensus rating of "Moderate Buy" and a target near $435.30.
• There has been notable selling pressure—insiders sold roughly 324,282 shares (~$106M) last quarter and some institutions trimmed positions—though institutional ownership remains high at about 76.43%.

Patten Group Inc. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,314 shares of the semiconductor manufacturer's stock after selling 2,345 shares during the quarter. Broadcom makes up 2.1% of Patten Group Inc.'s portfolio, making the stock its 7th largest position. Patten Group Inc.'s holdings in Broadcom were worth $11,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JCIC Asset Management Inc. purchased a new position in Broadcom during the 3rd quarter valued at about $31,000. Miller Global Investments LLC purchased a new position in Broadcom during the 4th quarter valued at about $31,000. Manning & Napier Advisors LLC purchased a new position in Broadcom during the 3rd quarter valued at about $34,000. Navigoe LLC increased its position in Broadcom by 515.0% during the 3rd quarter. Navigoe LLC now owns 123 shares of the semiconductor manufacturer's stock valued at $40,000 after purchasing an additional 103 shares during the period. Finally, Stone House Investment Management LLC increased its position in Broadcom by 600.0% during the 3rd quarter. Stone House Investment Management LLC now owns 140 shares of the semiconductor manufacturer's stock valued at $46,000 after purchasing an additional 120 shares during the period. Institutional investors own 76.43% of the company's stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Continued hyperscaler deals and analyst praise reinforce Broadcom’s long-term AI infrastructure thesis — recent coverage highlights Broadcom’s expanding custom-AI pipeline (Meta, Google, Anthropic) and positions the company as a core AI-infrastructure play. How Software Powers Broadcom’s $2 Trillion AI Boom
• Positive Sentiment: Analyst commentary highlights Broadcom’s extended pact with Meta through 2029 as a structural revenue driver for AI infrastructure, supporting longer-term ETF and sector flows into companies tied to hyperscalers. The Zacks Analyst Blog Broadcom, Meta, IGM, QQQ and AIQ
• Positive Sentiment: Opinion pieces argue the Meta-Broadcom arrangement reduces hyperscaler dependence on NVIDIA and signals a strategic shift that could expand Broadcom’s addressable market for custom AI silicon and software. The Meta-Broadcom AI Chip Deal: A Shift From Nvidia Dependence, Not Displacement
• Neutral Sentiment: Macro/sector stories on the AI race (who could rival Apple by 2028) frame Broadcom as a major beneficiary of AI infrastructure demand, but these are thematic rather than firm-specific catalysts. Two AI giants that could rival Apple's market cap by 2028
• Negative Sentiment: Short-term selling pressure came after reports that Marvell is in talks to design AI chips for Google — that rumor helped Marvell rally and prompted some rotation out of Broadcom on fears of increased competition for hyperscaler deals. Marvell pops on report it will help Google with custom AI chips. Broadcom shares sink
• Negative Sentiment: Institutional trimming: Sumitomo Mitsui Trust reduced its Broadcom stake recently, which can add incremental near-term selling pressure even as strategic buyers remain active. Broadcom Inc. $AVGO is Sumitomo Mitsui Trust Group Inc.’s 6th Largest Position

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Wells Fargo & Company raised shares of Broadcom from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. The Goldman Sachs Group reissued a "buy" rating and set a $450.00 target price on shares of Broadcom in a research report on Monday, January 5th. Bank of America cut their target price on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Finally, Wolfe Research raised shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 target price on the stock in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $435.30.

Broadcom Stock Down 1.7%

Shares of Broadcom stock opened at $399.63 on Tuesday. The firm's 50 day moving average price is $334.48 and its 200-day moving average price is $345.69. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a 52-week low of $161.61 and a 52-week high of $414.61. The company has a market cap of $1.89 trillion, a P/E ratio of 78.05, a PEG ratio of 0.84 and a beta of 1.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the previous year, the firm earned $1.60 EPS. The company's quarterly revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's payout ratio is presently 50.78%.

Insider Activity

In other news, insider S. Ram Velaga sold 38,841 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider owned 96,147 shares of the company's stock, valued at $30,920,875.20. The trade was a 28.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares in the company, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock worth $106,425,249 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

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.

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