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

RFG Bristol Wealth Advisors LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 21,377 shares of the semiconductor manufacturer’s stock, valued at approximately $4,956,000. Broadcom accounts for approximately 1.6% of RFG Bristol Wealth Advisors LLC’s holdings, making the stock its 16th biggest position.

Other institutional investors have also bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its position in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the last quarter. Sellwood Investment Partners LLC acquired a new position in Broadcom during the 4th quarter worth $32,000. Finally, Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $168.52 on Wednesday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market capitalization of $792.37 billion, a price-to-earnings ratio of 137.46, a PEG ratio of 2.29 and a beta of 1.01. The company has a 50-day simple moving average of $206.64 and a 200 day simple moving average of $196.54. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Announces Dividend

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

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % 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, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 785,976 shares of company stock worth $147,912,102. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research reports. Mizuho lowered their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. TD Cowen raised 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. Bank of America lifted their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $231.48.

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.