Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Insider Sells $4,815,916.72 in Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 20,168 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Mark David Brazeal also recently made the following trade(s):

• On Wednesday, October 9th, Mark David Brazeal sold 18,900 shares of Broadcom stock. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00.
• On Monday, October 7th, Mark David Brazeal sold 20,280 shares of Broadcom stock. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $241.75 on Monday. The company has a 50 day moving average of $185.54 and a 200 day moving average of $171.21. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.13 trillion, a P/E ratio of 210.03, a P/E/G ratio of 2.15 and a beta of 1.13. Broadcom Inc. has a 12 month low of $104.15 and a 12 month high of $251.88.

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, topping the consensus estimate of $1.39 by $0.03. The firm 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 business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. As a group, sell-side 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 will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. Broadcom’s payout ratio is presently 191.87%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $221.88.

Institutional Investors Weigh In On Broadcom

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kiely Wealth Advisory Group Inc. bought a new position in shares of Broadcom in the 2nd quarter worth $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Broadcom during the second quarter valued at about $136,000. Semus Wealth Partners LLC bought a new stake in Broadcom during the second quarter worth about $202,000. Palisades Hudson Asset Management L.P. purchased a new position in shares of Broadcom in the 2nd quarter worth about $204,000. Finally, WPWealth LLP bought a new position in shares of Broadcom during the 2nd quarter valued at about $204,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

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.