Rep. Dan Newhouse Sells Broadcom Inc. (NASDAQ:AVGO) Shares

Representative Dan Newhouse (R-Washington) recently sold shares of Broadcom Inc. NASDAQ: AVGO. In a filing disclosed on May 16th, the Representative disclosed that they had sold between $1,001 and $15,000 in Broadcom stock on April 11th. The trade occurred in the Representative's "EDWARD JONES IRA" account.

Representative Dan Newhouse also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Union Pacific NYSE: UNP on 4/11/2025.
• Sold $1,001 - $15,000 in shares of PayPal NASDAQ: PYPL on 4/11/2025.
• Sold $1,001 - $15,000 in shares of UnitedHealth Group NYSE: UNH on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Moody's NYSE: MCO on 4/11/2025.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Dollar General NYSE: DG on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Lowe's Companies NYSE: LOW on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 4/11/2025.
• Sold $1,001 - $15,000 in shares of BlackRock NYSE: BLK on 4/11/2025.

Broadcom Stock Down 0.7%

Shares of AVGO traded down $1.61 during midday trading on Friday, reaching $228.92. 3,594,135 shares of the company were exchanged, compared to its average volume of 31,004,809. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. The stock has a 50-day moving average price of $190.02 and a 200-day moving average price of $200.90. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 187.02, a P/E/G ratio of 2.29 and a beta of 1.04.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom declared that its board has approved a stock repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. Bank of America reduced their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. KeyCorp raised their target price on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 720,576 shares of company stock valued at $131,249,694. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Broadcom

Hedge funds have recently added to or reduced their stakes in the stock. KFA Private Wealth Group LLC grew its position in Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock worth $407,000 after purchasing an additional 42 shares during the last quarter. Waddell & Associates LLC grew its stake in shares of Broadcom by 2.1% in the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares in the last quarter. Dakota Community Bank & Trust NA increased its holdings in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after purchasing an additional 45 shares during the period. Bryant Woods Investment Advisors LLC increased its stake in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after buying an additional 45 shares during the period. Finally, Challenger Wealth Management raised its position in shares of Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after buying an additional 45 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

About Representative Newhouse

Dan Newhouse (Republican Party) is a member of the U.S. House, representing Washington's 4th Congressional District. He assumed office on January 3, 2015. His current term ends on January 3, 2027. Newhouse (Republican Party) ran for re-election to the U.S. House to represent Washington's 4th Congressional District. He won in the general election on November 5, 2024. Click here to see Newhouse's key votes in Congress. Newhouse served as a member of the Washington House of Representatives representing District 15-Position 2 from 2003 through 2009 and as Washington Director of Agriculture from 2009 to 2013. Newhouse was first elected to the state House in 2002 and served until he was named state Director of Agriculture in 2009. He was first appointed by Governor Christine Gregoire on February 18, 2009.

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.

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