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 Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,377 shares of the semiconductor manufacturer's stock, valued at approximately $4,956,000. Broadcom comprises about 1.6% of RFG Bristol Wealth Advisors LLC's holdings, making the stock its 16th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Canton Hathaway LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth approximately $26,000. JDM Financial Group LLC grew 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 during the fourth quarter valued at approximately $32,000. Finally, Bellevue Asset Management LLC bought a new position in Broadcom in the fourth quarter worth approximately $33,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVGO. Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Mizuho lowered their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Susquehanna boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $231.48.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $7.72 during midday trading on Friday, reaching $146.29. 72,198,491 shares of the stock traded hands, compared to its average volume of 30,672,171. The company's 50 day moving average is $201.57 and its 200 day moving average is $196.19. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $687.85 billion, a PE ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.61%. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Insiders Place Their Bets

In related news, 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 sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction 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 transaction, the director now directly owns 46,400 shares of the company's stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 745,976 shares of company stock valued at $138,632,902 in the last three months. Corporate insiders own 2.00% of the company's stock.

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.