283 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by VCI Wealth Management LLC

VCI Wealth Management LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 283 shares of the semiconductor manufacturer’s stock, valued at approximately $316,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisors LLC grew its position in Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after buying an additional 93 shares during the last quarter. RMR Wealth Builders grew its position in Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after purchasing an additional 388 shares in the last quarter. Czech National Bank grew its position in Broadcom by 46.1% during the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after purchasing an additional 22,774 shares in the last quarter. Alpha Omega Wealth Management LLC grew its position in Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after purchasing an additional 1,704 shares in the last quarter. Finally, CI Investments Inc. grew its position in Broadcom by 89.4% during the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after purchasing an additional 64,912 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on AVGO shares. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Benchmark reiterated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Evercore ISI started coverage on shares of Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. Finally, Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $37.60 during trading on Thursday, reaching $1,294.42. The stock had a trading volume of 3,035,701 shares, compared to its average volume of 2,942,063. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The business’s 50-day moving average price is $1,304.15 and its 200 day moving average price is $1,129.53. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market capitalization of $599.86 billion, a PE ratio of 47.94, a P/E/G ratio of 2.55 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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. 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 quarter in the previous year, the company posted $9.83 EPS. Broadcom’s revenue was up 34.2% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction 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 completion of the transaction, 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. In the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

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.