Visionary Wealth Advisors Has $16.70 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Visionary Wealth Advisors raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 72,021 shares of the semiconductor manufacturer’s stock after purchasing an additional 59 shares during the quarter. Broadcom makes up 1.0% of Visionary Wealth Advisors’ holdings, making the stock its 17th largest position. Visionary Wealth Advisors’ holdings in Broadcom were worth $16,697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Geode Capital Management LLC grew its position in Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock worth $23,647,209,000 after acquiring an additional 3,018,294 shares in the last quarter. FMR LLC increased its stake in shares of Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the last quarter. Norges Bank bought a new position in shares of Broadcom during the 4th quarter valued at $16,893,010,000. Finally, Northern Trust Corp lifted its stake in shares of Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $228.61 on Monday. The stock’s fifty day simple moving average is $187.08 and its 200 day simple moving average is $199.61. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 186.47, a P/E/G ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom announced that its board has initiated a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Wall Street Analyst Weigh In

AVGO has been the topic of several analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Three 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $229.48.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total value of $184,152.00. Following the transaction, the director now owns 26,182 shares in the company, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is owned by insiders.

About Broadcom

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.