VCI Wealth Management LLC Has $2.44 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

VCI Wealth Management LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 14,557 shares of the semiconductor manufacturer's stock after selling 3,001 shares during the period. Broadcom accounts for about 1.0% of VCI Wealth Management LLC's investment portfolio, making the stock its 21st biggest holding. VCI Wealth Management LLC's holdings in Broadcom were worth $2,437,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares during the period. Nebula Research & Development LLC boosted its stake in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after acquiring an additional 14,399 shares during the period. Diversify Wealth Management LLC boosted its stake in shares of Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after acquiring an additional 2,016 shares during the period. OMNI 360 Wealth Inc. boosted its stake in shares of Broadcom by 51.6% in the first quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock worth $499,000 after acquiring an additional 1,014 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its position in shares of Broadcom by 1,512.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after buying an additional 86,884 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

AVGO stock traded up $5.10 during trading on Wednesday, hitting $283.69. The stock had a trading volume of 20,467,451 shares, compared to its average volume of 27,700,779. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $295.19. The stock has a market capitalization of $1.33 trillion, a P/E ratio of 106.25, a PEG ratio of 2.05 and a beta of 1.12. The company's 50-day moving average price is $254.41 and its two-hundred day moving average price is $220.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. Broadcom's revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.96 EPS. As a group, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.

Broadcom declared that its board has authorized a stock buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AVGO shares. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Oppenheimer upped their price objective on Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. upped their price objective on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Rosenblatt Securities upped their price objective on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Citigroup upped their price objective on Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Broadcom has a consensus rating of "Buy" and a consensus price target of $292.08.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the sale, the insider owned 415,956 shares in the company, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,224,641 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

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.