Patton Albertson Miller Group LLC Has $15.43 Million Holdings in Broadcom Inc. $AVGO

Key Points

• Patton Albertson Miller Group LLC cut its Broadcom stake by 5.4% in the fourth quarter, ending with 44,573 shares worth about $15.43 million. Broadcom remains a meaningful holding, accounting for 1.8% of the firm’s portfolio.
• Wall Street sentiment around Broadcom remains broadly positive, with Citi raising its price target to $500 and other analysts pointing to continued upside tied to AI demand and infrastructure exposure. MarketBeat notes an average rating of Moderate Buy and an average target price of $436.13.
• Broadcom posted strong recent results, beating earnings and revenue expectations with $2.05 EPS and $19.31 billion in quarterly revenue, up 29.5% year over year. The company also paid a quarterly dividend of $0.65 per share and insiders sold shares during the last 90 days.

Patton Albertson Miller Group LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,573 shares of the semiconductor manufacturer's stock after selling 2,544 shares during the quarter. Broadcom comprises 1.8% of Patton Albertson Miller Group LLC's investment portfolio, making the stock its 12th largest holding. Patton Albertson Miller Group LLC's holdings in Broadcom were worth $15,427,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AVGO. Arrowstreet Capital Limited Partnership grew its stake in shares of Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after buying an additional 4,694,313 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Broadcom by 47.5% in the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock valued at $3,406,211,000 after buying an additional 3,160,586 shares in the last quarter. Danske Bank A S bought a new stake in shares of Broadcom in the 3rd quarter valued at approximately $987,488,000. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $924,858,000. 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: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
• Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
• Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
• Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares

Insider Buying and Selling

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the firm's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the transaction, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares in the company, valued at $105,407,616. This trade represents a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 324,282 shares of company stock valued at $106,425,249 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AVGO. Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. JPMorgan Chase & Co. upped their target price on Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Erste Group Bank cut Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Royal Bank Of Canada decreased their target price on Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a research report on Monday, March 2nd. Finally, Benchmark reaffirmed a "buy" rating and set a $485.00 target price on shares of Broadcom in a research report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $436.13.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $419.30 on Wednesday. The business has a fifty day simple moving average of $358.98 and a 200 day simple moving average of $353.01. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 81.89, a PEG ratio of 0.89 and a beta of 1.43. Broadcom Inc. has a one year low of $221.60 and a one year high of $437.68.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. During the same period in the prior year, the company posted $1.60 earnings per share. Broadcom's revenue was up 29.5% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid a $0.65 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom's dividend payout ratio (DPR) is 50.78%.

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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