Justine Page Sells 800 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) Director Justine Page sold 800 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Justine Page also recently made the following trade(s):

• On Monday, April 14th, Justine Page sold 800 shares of Broadcom stock. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00.

Broadcom Stock Performance

Shares of AVGO opened at $228.61 on Friday. The firm has a 50-day moving average of $187.08 and a 200-day moving average of $199.41. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The company has a market cap of $1.07 trillion, a PE ratio of 186.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Broadcom announced that its Board of Directors has approved a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Broadcom

Hedge funds and other institutional investors have recently modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Wolff Financial Management LLC acquired a new stake in Broadcom in the 4th quarter worth about $244,000. Motive Wealth Advisors raised its stake in Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after purchasing an additional 4,209 shares in the last quarter. Nebula Research & Development LLC raised its stake in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Finally, TTP Investments Inc. raised its stake in Broadcom by 71.7% in the 4th quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer’s stock worth $14,061,000 after purchasing an additional 25,330 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AVGO shares. Bank of America dropped their price objective on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Mizuho dropped their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Citigroup dropped their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $229.48.

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.