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

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

Other large investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. boosted its stake in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares in the last quarter. Richardson Capital Management LLC bought a new stake in Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN boosted its stake in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Broadcom during the first quarter worth about $36,000. Finally, St. Johns Investment Management Company LLC boosted its stake in Broadcom by 4,000.0% during the first quarter. St. Johns Investment Management Company LLC now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AVGO. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Truist Financial boosted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, Oppenheimer decreased their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.54.

Broadcom Stock Performance

AVGO opened at $179.89 on Friday. The firm has a market cap of $837.37 billion, a P/E ratio of 7.74, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. The company has a 50 day simple moving average of $166.52 and a two-hundred day simple moving average of $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.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.18%. Broadcom’s dividend payout ratio is currently 9.12%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

About Broadcom

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.