High Note Wealth LLC Purchases Shares of 214 Broadcom Inc. (NASDAQ:AVGO)

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

A number of other hedge funds also recently made changes to their positions in AVGO. BlackRock Inc. increased its stake in Broadcom by 6.2% during the 2nd quarter. BlackRock Inc. now owns 31,681,688 shares of the semiconductor manufacturer’s stock worth $27,481,646,000 after buying an additional 1,836,795 shares during the period. State Street Corp increased its position in shares of Broadcom by 1.9% in the 2nd quarter. State Street Corp now owns 16,941,449 shares of the semiconductor manufacturer’s stock worth $14,695,521,000 after purchasing an additional 309,326 shares during the last quarter. Morgan Stanley increased its position in shares of Broadcom by 12.5% in the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after purchasing an additional 651,014 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Broadcom by 11.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after purchasing an additional 488,405 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Broadcom by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after purchasing an additional 93,615 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $1,318.73 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $611.13 billion, a price-to-earnings ratio of 48.88, a P/E/G 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 firm has a 50 day moving average of $1,267.55 and a two-hundred day moving average of $1,061.46.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (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 the consensus estimate of $11.79 billion. During the same period in the prior year, the firm earned $9.83 EPS. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. UBS Group boosted their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Summit Insights raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,230.18.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of Broadcom 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 transaction of $12,715,270.80. Following the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. Insiders sold 19,810 shares of company stock worth $26,107,692 in the last quarter. 2.00% of the stock is owned by corporate insiders.

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.