Sen. Shelley Moore Capito Purchases Shares of Broadcom Inc. (NASDAQ:AVGO)

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 Performance

Shares of AVGO stock opened at $236.41 on Tuesday. 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 50-day moving average of $192.56 and a 200-day moving average of $174.24. Broadcom Inc. has a one year low of $105.20 and a one year high of $251.88. The company has a market cap of $1.11 trillion, a P/E ratio of 205.40, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the firm earned $0.98 EPS. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. Broadcom’s dividend payout ratio is presently 191.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Castleview Partners LLC lifted its position in Broadcom by 1,030.8% in 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 last quarter. Pin Oak Investment Advisors Inc. lifted its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. JDM Financial Group LLC boosted its stake in shares of Broadcom by 1,323.1% in the 3rd 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 grew its holdings in shares of Broadcom by 1,073.7% during the 3rd 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 last quarter. Finally, Cedar Wealth Management LLC grew its holdings 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 valued at $41,000 after purchasing an additional 216 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America increased their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.88.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,128 shares of company stock worth $39,099,840 in the last 90 days. 2.00% of the stock is 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.

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.