Cigna Investments Inc. New Has $5.16 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Cigna Investments Inc. New lifted its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,625 shares of the semiconductor manufacturer’s stock after purchasing an additional 278 shares during the quarter. Broadcom accounts for 1.1% of Cigna Investments Inc. New’s portfolio, making the stock its 14th largest position. Cigna Investments Inc. New’s holdings in Broadcom were worth $5,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Rise Advisors LLC grew its position in Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares in the last quarter. CX Institutional lifted its position in shares of Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after acquiring an additional 10 shares during the period. Cascade Investment Group Inc. grew its holdings in shares of Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after purchasing an additional 10 shares in the last quarter. Greenwood Gearhart Inc. increased its position in shares of Broadcom by 2.0% in the third quarter. Greenwood Gearhart Inc. now owns 549 shares of the semiconductor manufacturer’s stock worth $456,000 after purchasing an additional 11 shares during the period. Finally, WBH Advisory Inc. raised its stake in Broadcom by 3.0% in the third quarter. WBH Advisory Inc. now owns 412 shares of the semiconductor manufacturer’s stock valued at $342,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AVGO. Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Cantor Fitzgerald upped their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Truist Financial raised their price objective on shares of Broadcom from $995.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Mizuho upped their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,230.18.

Read Our Latest Stock Analysis on AVGO

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the sale, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated 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 owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,310 shares of company stock valued at $29,405,117. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $1,318.90 on Tuesday. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a fifty day moving average of $1,280.36 and a 200-day moving average of $1,074.79. The company has a market capitalization of $611.20 billion, a P/E ratio of 50.05, a P/E/G ratio of 2.79 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.83 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Broadcom Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.