Morton Capital Management LLC CA Has $969,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Morton Capital Management LLC CA increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,179 shares of the semiconductor manufacturer’s stock after purchasing an additional 71 shares during the quarter. Morton Capital Management LLC CA’s holdings in Broadcom were worth $969,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AVGO. State Street Corp grew its holdings in shares of Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC boosted its holdings in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC grew its position in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVGO. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley upped their price target on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Broadcom stock opened at $237.44 on Friday. Broadcom Inc. has a fifty-two week low of $112.19 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a 50 day moving average price of $200.93 and a 200-day moving average price of $177.60. The company has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

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.