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

by · The Markets Daily

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 Price Performance

Shares of NASDAQ AVGO traded up $0.59 during mid-day trading on Tuesday, hitting $178.95. 16,914,872 shares of the stock traded hands, compared to its average volume of 31,313,855. The company has a market cap 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 Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $194.45 and a two-hundred day simple moving average of $196.15.

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

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AVGO shares. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. KeyCorp lifted their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $231.68.

Get Our Latest Stock Report on Broadcom

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Canton Hathaway LLC bought a new position in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Henry Samueli sold 663,976 shares of the firm’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 transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 718,976 shares of company stock worth $130,917,542. 2.00% of the stock is owned by corporate insiders.

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

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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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