Broadcom Inc. (NASDAQ:AVGO) Declares Quarterly Dividend of $0.59

Broadcom Inc. (NASDAQ:AVGO) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Thursday, March 20th will be given a dividend of 0.59 per share by the semiconductor manufacturer on Monday, March 31st. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th.

Broadcom has increased its dividend by an average of 13.4% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Broadcom has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Broadcom to earn $6.38 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 37.0%.

Broadcom Stock Performance

Shares of AVGO stock opened at $194.50 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market cap of $914.53 billion, a PE ratio of 158.65, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a fifty day moving average price of $217.28 and a 200 day moving average price of $194.43.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley raised their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Insiders Place Their Bets

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,738 shares of company stock worth $43,395,200 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

An institutional investor recently raised its position in Broadcom stock. Brighton Jones LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 21.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,683 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,322 shares during the quarter. Brighton Jones LLC’s holdings in Broadcom were worth $6,882,000 as of its most recent filing with the SEC. Institutional investors own 76.43% of the company’s stock.

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.