Broadcom Inc. Declares Quarterly Dividend of $5.25 (NASDAQ:AVGO)

Broadcom Inc. (NASDAQ:AVGOGet Free Report) declared a quarterly dividend on Thursday, March 7th, RTT News reports. Stockholders of record on Thursday, March 21st will be paid a dividend of 5.25 per share by the semiconductor manufacturer on Friday, March 29th. This represents a $21.00 annualized dividend and a dividend yield of 1.49%.

Broadcom has increased its dividend payment by an average of 12.6% per year over the last three years and has raised its dividend every year for the last 14 years. Broadcom has a dividend payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Broadcom to earn $50.23 per share next year, which means the company should continue to be able to cover its $21.00 annual dividend with an expected future payout ratio of 41.8%.

Broadcom Stock Up 4.2 %

Broadcom stock opened at $1,407.01 on Friday. The company’s 50-day moving average price is $1,214.70 and its two-hundred day moving average price is $1,020.95. The stock has a market cap of $652.04 billion, a price-to-earnings ratio of 42.71, a PEG ratio of 2.54 and a beta of 1.26. Broadcom has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a current ratio of 2.82, a quick ratio of 2.56 and a debt-to-equity ratio of 1.57.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $9.34 by $1.65. Broadcom had a return on equity of 73.43% and a net margin of 39.31%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the prior year, the firm posted $9.83 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. On average, analysts expect that Broadcom will post 41.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Mizuho boosted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp raised their price objective on shares of Broadcom from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Friday, November 24th. UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,134.45.

Get Our Latest Stock Report on Broadcom

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 2,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $1,116.00, for a total value of $2,232,000.00. Following the transaction, the insider now owns 91,380 shares of the company’s stock, valued at approximately $101,980,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Charlie B. Kawwas sold 2,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $1,116.00, for a total value of $2,232,000.00. Following the sale, the insider now directly owns 91,380 shares in the company, valued at approximately $101,980,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $1,089.69, for a total transaction of $21,793,800.00. Following the completion of the sale, the chief executive officer now owns 229,796 shares in the company, valued at $250,406,403.24. The disclosure for this sale can be found here. Insiders sold 45,443 shares of company stock worth $50,151,532 in the last quarter. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Broadcom by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 43,347,811 shares of the semiconductor manufacturer’s stock valued at $48,386,994,000 after purchasing an additional 3,089,798 shares during the last quarter. State Street Corp raised its stake in Broadcom by 5.0% in the first quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock valued at $10,670,149,000 after buying an additional 794,832 shares during the period. Morgan Stanley lifted its position in shares of Broadcom by 12.5% in the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock valued at $3,287,056,000 after buying an additional 651,014 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Broadcom by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after acquiring an additional 488,405 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Broadcom by 4.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock worth $3,712,789,000 after acquiring an additional 179,272 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors and hedge funds.

About Broadcom

(Get Free Report)

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.

Further Reading

Dividend History for Broadcom (NASDAQ:AVGO)

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