Patton Fund Management Inc. Takes $3.29 Million Position in Broadcom Inc. $AVGO

Key Points

• Patton Fund Management Inc. acquired a new position in Broadcom Inc. during the second quarter, investing approximately $3.29 million for 11,938 shares.
• Over 76% of Broadcom's stock is currently owned by institutional investors and hedge funds, indicating strong market confidence.
• Broadcom recently declared a quarterly dividend of $0.59 per share, with a current annualized yield of 0.7%.

Patton Fund Management Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 11,938 shares of the semiconductor manufacturer's stock, valued at approximately $3,291,000. Broadcom makes up 2.3% of Patton Fund Management Inc.'s portfolio, making the stock its 29th largest position.

Several other institutional investors have also made changes to their positions in the business. Kathmere Capital Management LLC boosted its position in shares of Broadcom by 8.0% during the 2nd quarter. Kathmere Capital Management LLC now owns 10,145 shares of the semiconductor manufacturer's stock valued at $2,796,000 after acquiring an additional 750 shares in the last quarter. Instrumental Wealth LLC boosted its position in shares of Broadcom by 7.1% during the 2nd quarter. Instrumental Wealth LLC now owns 1,782 shares of the semiconductor manufacturer's stock valued at $501,000 after acquiring an additional 118 shares in the last quarter. PFS Partners LLC boosted its position in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 38 shares in the last quarter. True North Advisors LLC boosted its position in shares of Broadcom by 18.4% during the 2nd quarter. True North Advisors LLC now owns 32,993 shares of the semiconductor manufacturer's stock valued at $9,095,000 after acquiring an additional 5,136 shares in the last quarter. Finally, Destiny Wealth Partners LLC boosted its position in shares of Broadcom by 16.1% during the 2nd quarter. Destiny Wealth Partners LLC now owns 38,342 shares of the semiconductor manufacturer's stock valued at $10,569,000 after acquiring an additional 5,316 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO stock opened at $327.90 on Tuesday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm's 50 day moving average is $314.46 and its 200-day moving average is $254.25. The firm has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 83.65, a PEG ratio of 1.85 and a beta of 1.16. 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 (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the business earned $1.24 earnings per share. Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is 60.20%.

Analyst Ratings Changes

A number of research firms have commented on AVGO. Wells Fargo & Company boosted their price target on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. KeyCorp boosted their price target on shares of Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. HSBC upgraded shares of 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. Finally, Citigroup boosted their price target on shares of Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $356.48.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 3,893 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares of the company's stock, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 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 corporate insiders.

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.

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