Broadcom Inc. (NASDAQ:AVGO) Stock Position Raised by Patten Group Inc.

Patten Group Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,167 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,652 shares during the quarter. Broadcom accounts for 2.0% of Patten Group Inc.’s investment portfolio, making the stock its 7th biggest holding. Patten Group Inc.’s holdings in Broadcom were worth $8,849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of AVGO. Alta Capital Management LLC boosted its holdings in Broadcom by 95.7% in the 4th quarter. Alta Capital Management LLC now owns 68,778 shares of the semiconductor manufacturer’s stock worth $15,946,000 after acquiring an additional 33,637 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Broadcom by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,808,362 shares of the semiconductor manufacturer’s stock valued at $7,606,291,000 after acquiring an additional 810,907 shares in the last quarter. NBW Capital LLC bought a new position in shares of Broadcom during the fourth quarter valued at approximately $8,738,000. Bedel Financial Consulting Inc. boosted its stake in Broadcom by 3.2% during the 4th quarter. Bedel Financial Consulting Inc. now owns 3,254 shares of the semiconductor manufacturer’s stock valued at $755,000 after purchasing an additional 101 shares during the period. Finally, WMG Financial Advisors LLC grew its stake in shares of Broadcom by 4.5% in the fourth quarter. WMG Financial Advisors LLC now owns 8,420 shares of the semiconductor manufacturer’s stock worth $1,952,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 6.0 %

Shares of AVGO stock opened at $187.37 on Tuesday. The stock has a market cap of $878.27 billion, a P/E ratio of 152.83, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a 50 day simple moving average of $226.54 and a 200 day simple moving average of $192.50. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business posted $0.98 EPS. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.26%. Broadcom’s dividend payout ratio is presently 191.87%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVGO. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Susquehanna boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. TD Cowen lifted their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Truist Financial boosted their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.04.

Insiders Place Their Bets

In other news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.