Vista Cima Wealth Management LLC Invests $2.17 Million in Broadcom Inc. (NASDAQ:AVGO)

Vista Cima Wealth Management LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,346 shares of the semiconductor manufacturer's stock, valued at approximately $2,167,000. Broadcom accounts for about 2.3% of Vista Cima Wealth Management LLC's investment portfolio, making the stock its 15th biggest position.

A number of other hedge funds also recently modified their holdings of the stock. Canton Hathaway LLC bought a new position in shares of Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the 4th quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new position in Broadcom in the 4th quarter valued at $32,000. Bellevue Asset Management LLC bought a new position in Broadcom during the 4th quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In related news, Director Justine Page sold 800 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now directly owns 26,182 shares in the company, valued at $6,026,834.58. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,576 shares of company stock worth $131,249,694. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of Broadcom stock traded up $1.05 during midday trading on Tuesday, hitting $231.68. 11,749,421 shares of the company traded hands, compared to its average volume of 31,130,408. The firm's fifty day moving average price is $188.62 and its 200-day moving average price is $200.27. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 188.97, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12 month low of $128.50 and a 12 month 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.

Broadcom announced that its Board of Directors has authorized a stock repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Rosenblatt Securities restated a "buy" rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. KeyCorp boosted their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Citigroup lowered their price objective on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

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.