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 Price Performance

NASDAQ:AVGO traded up $0.59 during trading hours on Tuesday, reaching $178.95. 16,914,872 shares of the company traded hands, compared to its average volume of 31,313,855. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The stock has a market cap of $841.41 billion, a P/E ratio of 145.96, a P/E/G ratio of 2.29 and a beta of 1.05. The firm’s 50-day moving average is $193.40 and its 200-day moving average is $196.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Dividend Announcement

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

Broadcom announced that its board has initiated a share 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 reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Broadcom

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

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value 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 $83,872,080. This represents a 5.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was 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 approximately $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. Insiders have sold 718,976 shares of company stock worth $130,917,542 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays increased their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Citigroup cut their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.

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.