Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Insider Sells 40,000 Shares of Stock

07 Jan 2025, 00:45 by Danessa Lincoln · The Markets Daily

Broadcom Inc. (NASDAQ:AVGO – Get Free Report) insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Broadcom Stock Up 1.7 %

Shares of AVGO traded up $3.86 during mid-day trading on Monday, hitting $236.41. The company’s stock had a trading volume of 33,978,144 shares, compared to its average volume of 30,154,039. The firm has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 205.40, a PEG ratio of 2.15 and a beta of 1.03. The company’s 50-day moving average is $191.27 and its 200-day moving average is $173.87. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 52-week low of $105.20 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. On average, equities research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in shares of Broadcom by 900.0% in 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 during the last quarter. JDM Financial Group LLC lifted its stake in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the period. Tsfg LLC grew its holdings in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC increased its position in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after acquiring an additional 216 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Cantor Fitzgerald lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their target price on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Evercore ISI raised their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.88.

View Our Latest Stock Analysis on AVGO

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