RFG Bristol Wealth Advisors LLC Invests $4.96 Million in Broadcom Inc. (NASDAQ:AVGO)

RFG Bristol Wealth Advisors LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,377 shares of the semiconductor manufacturer’s stock, valued at approximately $4,956,000. Broadcom accounts for about 1.6% of RFG Bristol Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest holding.

Several other hedge funds have also modified their holdings of AVGO. Canton Hathaway LLC purchased a new position in Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at $26,000. JDM Financial Group LLC raised its position in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. Sellwood Investment Partners LLC purchased a new stake in Broadcom in the 4th quarter worth about $32,000. Finally, Bellevue Asset Management LLC acquired a new stake in Broadcom during the 4th quarter worth about $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 785,976 shares of company stock worth $147,912,102. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. TD Cowen upped their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. KeyCorp increased their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Price Performance

NASDAQ:AVGO opened at $168.52 on Wednesday. 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 Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a fifty day moving average price of $206.64 and a 200 day moving average price of $196.54. The stock has a market cap of $792.37 billion, a P/E ratio of 137.46, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

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.