RFG Advisory LLC Buys 40,494 Shares of Broadcom Inc. (NASDAQ:AVGO)

RFG Advisory LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,075.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,259 shares of the semiconductor manufacturer’s stock after acquiring an additional 40,494 shares during the quarter. RFG Advisory LLC’s holdings in Broadcom were worth $7,635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Howard Capital Management Group LLC boosted its stake in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares in the last quarter. LexAurum Advisors LLC lifted its stake in shares of Broadcom by 645.0% in the third quarter. LexAurum Advisors LLC now owns 6,325 shares of the semiconductor manufacturer’s stock valued at $1,091,000 after buying an additional 5,476 shares in the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in shares of Broadcom by 832.8% in the third quarter. DiNuzzo Private Wealth Inc. now owns 541 shares of the semiconductor manufacturer’s stock valued at $93,000 after buying an additional 483 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in shares of Broadcom by 897.7% in the third quarter. Onyx Bridge Wealth Group LLC now owns 11,773 shares of the semiconductor manufacturer’s stock valued at $2,031,000 after buying an additional 10,593 shares in the last quarter. Finally, Krane Funds Advisors LLC bought a new position in shares of Broadcom in the third quarter valued at $42,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Rosenblatt Securities dropped their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. UBS Group dropped their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, Morgan Stanley increased their target price on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $179.89 on Friday. The company’s fifty day moving average price is $166.52 and its 200-day moving average price is $153.25. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market capitalization of $837.37 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a one year low of $81.83 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 9.12%.

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.