Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Director Sells 663,976 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Broadcom Price Performance

AVGO opened at $169.12 on Friday. The company has a fifty day moving average price of $209.48 and a two-hundred day moving average price of $196.25. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market capitalization of $795.19 billion, a PE ratio of 137.95, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.40%. Broadcom’s dividend payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, TD Cowen lifted their price objective on Broadcom from $210.00 to $240.00 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 given a buy rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Hedge Funds Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVGO. 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 worth $524,000 after purchasing an additional 2,908 shares during the period. Principal Financial Group Inc. raised 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 worth $1,238,966,000 after buying an additional 6,540,800 shares during the period. Quest Partners LLC lifted its holdings in Broadcom by 3,295.8% during the third 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. Wiser Advisor Group LLC grew its stake in Broadcom by 1,665.7% in the third quarter. Wiser Advisor Group LLC now owns 618 shares of the semiconductor manufacturer’s stock valued at $107,000 after acquiring an additional 583 shares during the period. Finally, Acorn Wealth Advisors LLC increased its holdings in shares of Broadcom by 1,244.8% in the third quarter. Acorn Wealth Advisors LLC now owns 2,219 shares of the semiconductor manufacturer’s stock worth $383,000 after acquiring an additional 2,054 shares in the last quarter. Institutional investors 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.