Rep. Kelly Morrison Buys Broadcom Inc. (NASDAQ:AVGO) Shares

Representative Kelly Morrison (D-Minnesota) recently bought shares of Broadcom Inc. (NASDAQ:AVGO). In a filing disclosed on April 11th, the Representative disclosed that they had bought between $1,001 and $15,000 in Broadcom stock on March 21st. The trade occurred in the Representative’s “TRUST 1” account.

Representative Kelly Morrison also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/24/2025.
• Purchased $15,001 – $50,000 in shares of Meta Platforms (NASDAQ:META) on 3/24/2025.
• Sold $100,001 – $250,000 in shares of Target (NYSE:TGT) on 3/21/2025.
• Sold $15,001 – $50,000 in shares of Target (NYSE:TGT) on 3/21/2025.
• Sold $1,001 – $15,000 in shares of Merck & Co., Inc. (NYSE:MRK) on 3/20/2025.
• Sold $1,001 – $15,000 in shares of D.R. Horton (NYSE:DHI) on 3/20/2025.
• Sold $1,001 – $15,000 in shares of CACI International (NYSE:CACI) on 3/20/2025.
• Sold $1,001 – $15,000 in shares of United Parcel Service (NYSE:UPS) on 3/20/2025.
• Sold $1,001 – $15,000 in shares of Diageo (NYSE:DEO) on 3/20/2025.
• Purchased $1,001 – $15,000 in shares of Target (NYSE:TGT) on 3/3/2025.

Broadcom Stock Up 0.3 %

Shares of Broadcom stock opened at $178.95 on Wednesday. The company has a 50-day simple moving average of $193.40 and a two-hundred day simple moving average of $196.03. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. 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 capitalization of $841.41 billion, a PE ratio of 145.96, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Broadcom announced that its board has authorized a share repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Broadcom

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock worth $23,647,209,000 after buying an additional 3,018,294 shares in the last quarter. FMR LLC boosted its stake in Broadcom by 3.2% during the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock valued at $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank purchased a new position in Broadcom during the 4th quarter valued at approximately $16,893,010,000. Finally, Northern Trust Corp increased its stake in Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock worth $11,380,411,000 after acquiring an additional 5,258,925 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 718,976 shares of company stock valued at $130,917,542 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. Truist Financial boosted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Mizuho lowered their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Benchmark reissued a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Morgan Stanley boosted their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued 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 target price of $231.68.

About Representative Morrison

Kelly Morrison (Democratic Party) is a member of the U.S. House, representing Minnesota’s 3rd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Morrison (Democratic Party) is running for re-election to the U.S. House to represent Minnesota’s 3rd Congressional District. She declared candidacy for the 2026 election.

Kelly Morrison was born in Minneapolis, Minnesota, and lives in Deephaven. Morrison earned a B.A. in history from Yale University and an M.D. from Case Western Reserve University. She completed her residency in obstetrics and gynecology at Northwestern University. Morrison’s career experience includes working as a physician.

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.