High Note Wealth LLC Invests $239,000 in Broadcom Inc. (NASDAQ:AVGO)

High Note Wealth LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 214 shares of the semiconductor manufacturer’s stock, valued at approximately $239,000.

A number of other large investors also recently modified their holdings of the stock. Rise Advisors LLC increased its position in shares of Broadcom by 76.5% during the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Bollard Group LLC acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $26,000. Macroview Investment Management LLC acquired a new position in shares of Broadcom during the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $29,000. Finally, Indiana Trust & Investment Management CO acquired a new position in Broadcom in the 3rd quarter valued at $32,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of Broadcom stock opened at $1,318.73 on Thursday. The business’s fifty day simple moving average is $1,267.55 and its 200 day simple moving average is $1,061.46. The firm has a market capitalization of $611.13 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.83 EPS. As a group, analysts anticipate that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on AVGO shares. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and upped their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. UBS Group increased their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Mizuho increased their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at $28,039,603.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,810 shares of company stock worth $26,107,692. 2.00% of the stock is owned by company insiders.

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.