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 Trading Up 1.7 %

Shares of Broadcom stock opened at $236.41 on Tuesday. The firm’s 50-day moving average price is $192.56 and its two-hundred day moving average price is $174.24. The company 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 has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $105.20 and a 12-month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current fiscal 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 $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 191.87%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Morgan Stanley raised their target price on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $221.88.

Insider Activity

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the completion of the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,128 shares of company stock worth $39,099,840 in the last three months. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Several institutional investors and hedge funds have recently made changes to their positions in AVGO. Castleview Partners LLC grew its position in shares of Broadcom by 1,030.8% during the 3rd 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 period. Pin Oak Investment Advisors Inc. grew its holdings in 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 purchasing an additional 135 shares during the period. JDM Financial Group LLC increased its stake in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares in the last quarter. Tsfg LLC raised 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 purchasing an additional 204 shares during the period. Finally, Cedar Wealth Management LLC boosted its position in shares of Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

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.