Fountainhead AM LLC Acquires Shares of 1,040 Broadcom Inc. (NASDAQ:AVGO)

Fountainhead AM LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,040 shares of the semiconductor manufacturer’s stock, valued at approximately $1,161,000.

Other large investors have also recently added to or reduced their stakes in the company. PSI Advisors LLC increased its stake in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 10 shares during the period. BKM Wealth Management LLC acquired a new position in Broadcom in the 4th quarter valued at approximately $29,000. CKW Financial Group acquired a new position in shares of Broadcom during the 4th quarter worth $30,000. Macroview Investment Management LLC acquired a new position in shares of Broadcom during the 3rd quarter worth $29,000. Finally, PrairieView Partners LLC increased its stake in shares of Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now 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 is accessible through this link. In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated Thursday, March 21st. The stock was 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 directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 2.0 %

AVGO traded up $24.73 during trading on Tuesday, reaching $1,249.19. 2,198,693 shares of the stock were exchanged, compared to its average volume of 2,952,703. The stock has a market cap of $578.90 billion, a P/E ratio of 46.30, a price-to-earnings-growth 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’s 50 day moving average price is $1,304.25 and its two-hundred day moving average price is $1,128.64. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the business posted $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.68%. Broadcom’s dividend payout ratio is 77.84%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. UBS Group increased their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Benchmark restated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

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.