Broadcom (NASDAQ:AVGO) Stock Acquired Sen. Shelley Moore Capito

Senator Shelley Moore Capito (R-West Virginia) recently bought shares of Broadcom Inc. (NASDAQ:AVGO). In a filing disclosed on January 06th, the Senator disclosed that they had bought between $1,001 and $15,000 in Broadcom stock on December 12th.

Senator Shelley Moore Capito also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of General Electric (NYSE:GE) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of UnitedHealth Group (NYSE:UNH) on 12/20/2024.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 12/16/2024.
• Sold $1,001 – $15,000 in shares of Lowe’s Companies (NYSE:LOW) on 12/13/2024.
• Purchased $1,001 – $15,000 in shares of Carlisle Companies (NYSE:CSL) on 10/8/2024.

Broadcom Stock Down 3.3 %

Shares of NASDAQ AVGO opened at $228.64 on Wednesday. The business has a 50-day moving average price of $193.55 and a 200 day moving average price of $174.58. The stock has a market cap of $1.07 trillion, a PE ratio of 198.64, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 52-week low of $105.20 and a 52-week high of $251.88. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during 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 revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. Equities research analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AVGO. Castleview Partners LLC grew its position in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its holdings 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 valued at $25,000 after acquiring an additional 135 shares during the period. JDM Financial Group LLC boosted its position in shares of Broadcom by 1,323.1% in 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 boosted its position in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the period. Finally, Cedar Wealth Management LLC boosted its holdings in shares of Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVGO. Barclays raised their target price on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Benchmark restated a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.88.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,228 shares of company stock worth $35,643,408. 2.00% of the stock is currently owned by company insiders.

About Senator Capito

Shelley Moore Capito (Republican Party) is a member of the U.S. Senate from West Virginia. She assumed office on January 3, 2015. Her current term ends on January 3, 2027. Capito (Republican Party) ran for re-election to the U.S. Senate to represent West Virginia. She won in the general election on November 3, 2020. Capito was first elected to the Senate in 2014, becoming the first female U.S. Senator in the state’s history. Prior to serving in the Senate, Capito was a member of the West Virginia House of Representatives from 1997 to 2001 and a member of the United States House of Representatives from 2001 to 2015. At the start of the 116th Congress, Capito was a member of the U.S. Senate committees on Appropriations, Commerce, Science, and Transportation, Environment and Public Works, and Rules and Administration. As of a 2014 analysis of multiple outside rankings, Capito is a more moderate right of center Republican Party vote. As a result, she may break with the Republican Party line more than her fellow members. Capito earned her bachelor’s degree from Duke University. After earning her M.Ed. from the University of Virginia, Capito was a college counselor and then director of an educational information center. She was the only Republican in the West Virginia congressional delegation until the 2010 elections and is the first Republican woman elected to Congress from West Virginia. Capito is a former chairwoman of the Congressional Caucus for Women’s Issues, as well as a member of the Congressional Arts Caucus. After an explosion responsible for the death of 29 coal workers, Capito founded the Congressional Coal Caucus. Prior to her election to the U.S. House, Capito served in the West Virginia House of Delegates.

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.