Patriot Financial Group Insurance Agency LLC Sells 2,585 Shares of Broadcom Inc. $AVGO

Patriot Financial Group Insurance Agency LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 12.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,201 shares of the semiconductor manufacturer’s stock after selling 2,585 shares during the quarter. Broadcom makes up about 0.8% of Patriot Financial Group Insurance Agency LLC’s holdings, making the stock its 27th largest holding. Patriot Financial Group Insurance Agency LLC’s holdings in Broadcom were worth $6,005,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AVGO. Brighton Jones LLC boosted its position in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank lifted its position in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the last quarter. Martingale Asset Management L P boosted its holdings in shares of Broadcom by 1.3% in the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer’s stock valued at $649,000 after buying an additional 48 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC grew its position in shares of Broadcom by 3.8% in the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer’s stock worth $222,000 after buying an additional 48 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 3.2%

Shares of NASDAQ:AVGO opened at $340.36 on Friday. The business has a 50-day moving average price of $362.98 and a 200-day moving average price of $320.66. The stock has a market cap of $1.61 trillion, a price-to-earnings ratio of 71.50, a PEG ratio of 1.13 and a beta of 1.19. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same period last year, the firm posted $1.42 EPS. Broadcom’s revenue for the quarter was up 28.2% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s dividend payout ratio is 49.58%.

Analyst Ratings Changes

Several equities research analysts have weighed in on AVGO shares. Barclays restated an “overweight” rating and issued a $500.00 target price (up from $450.00) on shares of Broadcom in a research note on Friday, December 12th. Evercore ISI raised their price objective on Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $475.00 target price (up from $400.00) on shares of Broadcom in a research report on Friday, December 12th. Cowen reissued a “buy” rating on shares of Broadcom in a report on Friday, December 12th. Finally, Piper Sandler restated an “overweight” rating and set a $430.00 price objective (up previously from $375.00) on shares of Broadcom in a report on Friday, December 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $436.33.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Truist raised its price target to $510 and kept a buy stance, signaling big upside vs. current levels. AVGO: Broadcom price target raised by Truist
• Positive Sentiment: Company beat expectations and issued AI-related revenue commentary (large AI/XPU and networking opportunity), supporting a growth story tied to data-center demand. Broadcom soars past expectations with blockbuster results
• Positive Sentiment: Unusual options activity: traders bought ~323,615 call contracts, well above average, indicating speculative/hedged bullish bets on near-term upside.
• Positive Sentiment: Broadcom raised its quarterly dividend ~10% (new quarterly payment $0.65) — a sign of strong cash flow and shareholder returns. Broadcom stock just raised its dividend by 10%
• Neutral Sentiment: High-profile bullish coverage and commentary (Wall Street lists and media pieces) are amplifying interest but also raising expectations. Here’s why Wall Street is bullish on Broadcom stock (AVGO)
• Neutral Sentiment: Jim Cramer publicly said he isn’t very worried about Broadcom, which can calm retail sentiment but is not a fundamental driver. Jim Cramer says he is not that worried about Broadcom
• Negative Sentiment: Several insiders (including senior execs) have sold shares in recent filings — a potential overhang for sentiment even if sales may be for diversification/liquidity. Charlie Kawwas Sells 1,235 Shares of Broadcom
• Negative Sentiment: Sharp recent sell-off (~20% from pre-earnings levels) has created volatility and forced short-term selling pressure despite analysts raising targets. Broadcom Stock Crashes 20%—But Wall Street Sees It Soaring to $500

Insider Buying and Selling

In other news, Director Henry Samueli sold 320,316 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $400.53, for a total value of $128,296,167.48. Following the sale, the director owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 1,928 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the sale, the insider directly owned 23,582 shares in the company, valued at approximately $7,730,179.60. This trade represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 863,577 shares of company stock valued at $311,694,744 in the last 90 days. 2.00% of the stock is currently owned by 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.