Broadcom Inc. (NASDAQ:AVGO) Insider Mark David Brazeal Sells 25,000 Shares

Broadcom Inc. (NASDAQ:AVGO - Get Free Report) insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This represents a 5.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 24th, Mark David Brazeal sold 30,000 shares of Broadcom stock. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $3.62 during trading on Friday, reaching $170.99. The company had a trading volume of 22,452,143 shares, compared to its average volume of 31,339,754. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock's fifty day moving average price is $189.84 and its 200 day moving average price is $195.90. Broadcom Inc. has a fifty-two week low of $120.05 and a fifty-two week high of $251.88. The firm has a market capitalization of $803.99 billion, a price-to-earnings ratio of 139.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom announced that its Board of Directors has approved a share buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Institutional Investors Weigh In On Broadcom

A number of institutional investors have recently added to or reduced their stakes in AVGO. Vanguard Group Inc. raised its position in Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after purchasing an additional 3,018,294 shares in the last quarter. FMR LLC lifted its stake in shares of Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank acquired a new position in Broadcom during the fourth quarter worth about $16,893,010,000. Finally, Northern Trust Corp increased its holdings in Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after buying an additional 5,258,925 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Benchmark reissued a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Morgan Stanley lifted their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. KeyCorp increased their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Finally, Bank of America decreased their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $231.28.

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.