Representative David Taylor (R-Ohio) has sold shares of Broadcom Inc. (NASDAQ: AVGO), according to a filing made public on January 21, 2025. The transaction involved the sale of stock valued between $1,001 and $15,000 on January 8, 2025. This sale took place in the account titled “DAVID TAYLOR TRUST > SARDINIA READY MIX 401(K) – DAVE.”
On the day of the trade, Broadcom’s stock opened at $325.49. The semiconductor giant has a market capitalization of approximately $1.54 trillion and a price-to-earnings ratio of 68.38. Over the past year, the stock has fluctuated significantly, with a low of $138.10 and a high of $414.61. Broadcom’s stock also features a 50-day simple moving average of $357.64 and a 200-day simple moving average of $334.99.
Broadcom’s Financial Performance and Recent Dividend Increase
In addition to the share sale, Broadcom recently announced a quarterly dividend, which was paid on December 31, 2024. Shareholders of record on December 22, 2024, received a dividend of $0.65, marking an increase from the previous quarterly dividend of $0.59. This adjustment reflects an annualized dividend of $2.60 and a dividend yield of 0.8%. The company currently maintains a dividend payout ratio of 54.62%.
Institutional investors have shown continued interest in Broadcom. Norges Bank acquired a new stake in the company during the second quarter, valued at approximately $18.58 billion. Meanwhile, Vanguard Group Inc. increased its holdings by 1.3%, now owning 483,442,939 shares worth around $133.26 billion after acquiring an additional 6,222,802 shares during the last quarter. Other significant investors include Edgewood Management LLC, which purchased a new position worth $1.57 billion, and Arrowstreet Capital Limited Partnership, which grew its holdings by 499.4% during the third quarter.
Analyst Insights and Stock Ratings
Several analysts have recently upgraded their ratings for Broadcom. Wall Street Zen raised its rating from “hold” to “buy” on December 13, 2024. Oppenheimer increased its target price from $435.00 to $450.00, while Benchmark lifted its price target from $385.00 to $485.00. Additionally, UBS Group set a price objective of $475.00, and Deutsche Bank Aktiengesellschaft targeted $430.00 for the stock. Currently, Broadcom has a consensus rating of “buy” with an average price target of $438.61 based on data from MarketBeat.com.
Insider activity has also been notable. On December 17, 2024, insider Charlie B. Kawwas sold 1,928 shares at an average price of $327.80, totaling approximately $631,998.40. Following this transaction, Kawwas owned 23,582 shares, valued at around $7.73 million. Another insider, Mark David Brazeal, sold 30,000 shares on January 6, 2025, at an average price of $347.12, valued at approximately $10.41 million. In total, insiders have sold 779,901 shares worth about $284.07 million over the last quarter, with corporate insiders holding 2.00% of the company’s stock.
Representative David Taylor, who assumed office on January 3, 2025, represents Ohio’s 2nd Congressional District. He previously worked as an attorney and businessman, earning degrees from Miami University and the University of Dayton School of Law.
