High Note Wealth LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

High Note Wealth LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel.com reports. The fund bought 214 shares of the semiconductor manufacturer’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC grew its stake in Broadcom by 76.5% in the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 13 shares during the last quarter. Bollard Group LLC acquired a new stake in shares of Broadcom during the 2nd quarter worth approximately $26,000. Macroview Investment Management LLC acquired a new stake in shares of Broadcom during the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at approximately $29,000. Finally, Indiana Trust & Investment Management CO bought a new position in Broadcom in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $1,318.73 on Thursday. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The stock has a market cap of $611.13 billion, a PE ratio of 48.88, a P/E/G ratio of 2.85 and a beta of 1.26. The firm has a 50 day simple moving average of $1,267.55 and a two-hundred day simple moving average of $1,061.46. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the business earned $9.83 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, analysts predict that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Activity

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders have sold a total of 19,810 shares of company stock worth $26,107,692 over the last quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AVGO shares. Truist Financial raised their price target on shares of Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research note on Friday, December 8th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Susquehanna lifted their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. UBS Group lifted their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,230.18.

Broadcom 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.