RFG Holdings Inc. Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

RFG Holdings Inc. lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 8.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,580 shares of the semiconductor manufacturer’s stock after acquiring an additional 429 shares during the period. Broadcom accounts for approximately 0.4% of RFG Holdings Inc.’s portfolio, making the stock its 24th biggest position. RFG Holdings Inc.’s holdings in Broadcom were worth $1,296,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. AMF Tjanstepension AB boosted its stake in Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after purchasing an additional 908,585 shares during the period. Alpha Financial Partners LLC acquired a new stake in Broadcom during the 3rd quarter worth $404,000. Hexagon Capital Partners LLC boosted its stake in Broadcom by 861.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,644 shares of the semiconductor manufacturer’s stock worth $284,000 after purchasing an additional 1,473 shares during the period. Wealth Group Ltd. boosted its stake in Broadcom by 900.0% during the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock worth $304,000 after purchasing an additional 1,584 shares during the period. Finally, A. D. Beadell Investment Counsel Inc. acquired a new stake in Broadcom during the 3rd quarter worth $492,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVGO. Morgan Stanley decreased their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Mizuho raised their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Evercore ISI raised their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Barclays raised their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $224.87 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $218.50 and a two-hundred day moving average price of $183.74. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a market capitalization of $1.05 trillion, a P/E ratio of 183.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s payout ratio is 191.87%.

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.