Patron Partners LLC Has $2.80 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Patron Partners LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,068 shares of the semiconductor manufacturer’s stock after selling 84 shares during the period. Broadcom accounts for 1.5% of Patron Partners LLC’s portfolio, making the stock its 11th largest position. Patron Partners LLC’s holdings in Broadcom were worth $2,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. AMF Tjanstepension AB lifted its position in Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after purchasing an additional 908,585 shares during the period. Alpha Financial Partners LLC bought a new stake in shares of Broadcom during the third quarter worth approximately $404,000. City Holding Co. lifted its holdings in Broadcom by 1,464.7% in the third quarter. City Holding Co. now owns 1,330 shares of the semiconductor manufacturer’s stock valued at $229,000 after buying an additional 1,245 shares during the period. Brookstone Capital Management boosted its stake in Broadcom by 9.5% in the third quarter. Brookstone Capital Management now owns 38,803 shares of the semiconductor manufacturer’s stock valued at $6,693,000 after acquiring an additional 3,380 shares during the last quarter. Finally, First PREMIER Bank grew its holdings in Broadcom by 1,952.6% during the 3rd quarter. First PREMIER Bank now owns 390 shares of the semiconductor manufacturer’s stock worth $67,000 after acquiring an additional 371 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $231.36 on Friday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market cap of $1.08 trillion, a P/E ratio of 188.71, a P/E/G ratio of 2.31 and a beta of 1.02. The company has a fifty day moving average price of $217.07 and a two-hundred day moving average price of $183.40.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the firm earned $0.98 EPS. The business’s revenue was up 51.2% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.02%. Broadcom’s payout ratio is 192.50%.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho increased their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. TD Cowen upped their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Barclays upped their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

About Broadcom

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.