Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Insider Sells 30,000 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Broadcom Stock Down 4.8 %

NASDAQ AVGO traded down $8.99 on Wednesday, reaching $179.27. The company had a trading volume of 30,563,872 shares, compared to its average volume of 28,950,956. The firm has a market capitalization of $842.92 billion, a PE ratio of 146.22, a P/E/G ratio of 2.29 and a beta of 1.01. The firm has a 50-day moving average of $212.97 and a 200-day moving average of $196.00. Broadcom Inc. has a 1 year low of $119.76 and a 1 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.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AVGO. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Evercore ISI upped their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Truist Financial lifted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group upped their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Hedge Funds Weigh In On Broadcom

A number of institutional investors have recently added to or reduced their stakes in AVGO. Swedbank AB raised its position in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC raised its holdings in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares during the last quarter. Quest Partners LLC grew its holdings in Broadcom by 3,295.8% during the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock worth $141,000 after acquiring an additional 791 shares in the last quarter. Finally, Leelyn Smith LLC increased its position in shares of Broadcom by 875.6% in the 3rd quarter. Leelyn Smith LLC now owns 13,151 shares of the semiconductor manufacturer’s stock worth $2,269,000 after purchasing an additional 11,803 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company 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.