Broadcom Inc. (NASDAQ:AVGO) Director Diane M. Bryant Sells 15,000 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Broadcom Stock Up 2.4 %

NASDAQ:AVGO opened at $245.36 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market cap of $1.15 trillion, a PE ratio of 213.17, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The company has a 50-day moving average of $184.30 and a 200 day moving average of $170.51. Broadcom Inc. has a 1-year low of $104.15 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.96%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently added to or reduced their stakes in the stock. AXA S.A. raised its stake in shares of Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after acquiring an additional 7,608 shares in the last quarter. Strait & Sound Wealth Management LLC grew its holdings in Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC increased its position in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after purchasing an additional 623,983 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Broadcom by 969.3% in the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after purchasing an additional 350,485 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. 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. 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. Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. TD Cowen lifted 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. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.88.

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.