1,040 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Fountainhead AM LLC

Fountainhead AM LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,040 shares of the semiconductor manufacturer’s stock, valued at approximately $1,161,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVGO. Stanley Laman Group Ltd. purchased a new position in shares of Broadcom during the third quarter worth about $1,110,000. Impact Partnership Wealth LLC boosted its holdings in Broadcom by 151.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $117,000 after purchasing an additional 85 shares in the last quarter. 1900 Wealth Management LLC boosted its holdings in Broadcom by 120.3% in the 3rd quarter. 1900 Wealth Management LLC now owns 672 shares of the semiconductor manufacturer’s stock valued at $558,000 after purchasing an additional 367 shares in the last quarter. Kozak & Associates Inc. boosted its holdings in Broadcom by 4.8% in the 3rd quarter. Kozak & Associates Inc. now owns 306 shares of the semiconductor manufacturer’s stock valued at $258,000 after purchasing an additional 14 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in Broadcom by 1.0% in the 3rd quarter. Avior Wealth Management LLC now owns 2,426 shares of the semiconductor manufacturer’s stock valued at $2,015,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO traded up $24.73 on Tuesday, hitting $1,249.19. 2,198,693 shares of the company’s stock were exchanged, compared to its average volume of 2,952,703. The firm has a market cap of $578.90 billion, a PE ratio of 46.30, a P/E/G ratio of 2.46 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The stock has a fifty day moving average of $1,304.25 and a two-hundred day moving average of $1,128.64. 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 announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating 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 company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the business earned $9.83 earnings per share. Broadcom’s revenue was up 34.2% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Mizuho boosted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Benchmark reissued a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, UBS Group boosted their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity

In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom 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 approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last three months. Corporate insiders own 2.00% of the company’s stock.

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.