Broadcom Inc. (NASDAQ:AVGO) Insider Mark David Brazeal Sells 30,000 Shares

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Broadcom Stock Performance

Broadcom stock opened at $169.12 on Friday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month 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 company has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The firm’s fifty day moving average price is $209.48 and its 200 day moving average price is $195.91.

Broadcom Dividend Announcement

The firm 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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. grew its position in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Canton Hathaway LLC bought a new position in Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the 4th quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AVGO. Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Truist Financial raised their price target on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Morgan Stanley raised their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.