RFG Holdings Inc. Has $890,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

RFG Holdings Inc. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,007.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,151 shares of the semiconductor manufacturer’s stock after buying an additional 4,686 shares during the period. Broadcom makes up 0.3% of RFG Holdings Inc.’s investment portfolio, making the stock its 26th biggest holding. RFG Holdings Inc.’s holdings in Broadcom were worth $890,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Lion Street Advisors LLC boosted its holdings in shares of Broadcom by 1.9% in the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after acquiring an additional 6 shares in the last quarter. Tucker Asset Management LLC raised its holdings in shares of Broadcom by 12.5% in the fourth quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock valued at $80,000 after buying an additional 8 shares during the last quarter. Buckley Wealth Management LLC grew its holdings in Broadcom by 0.7% during the 1st quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock worth $1,529,000 after acquiring an additional 8 shares during the last quarter. Legend Financial Advisors Inc. increased its position in Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares in the last quarter. Finally, Ascent Wealth Partners LLC grew its stake in shares of Broadcom by 0.3% during the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after purchasing an additional 8 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated 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 sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 295,130 shares of company stock valued at $50,646,622 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 2.3 %

Shares of AVGO stock opened at $181.48 on Friday. Broadcom Inc. has a 52-week low of $81.83 and a 52-week high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a market cap of $847.62 billion, a price-to-earnings ratio of 157.67, a PEG ratio of 2.99 and a beta of 1.17. The firm’s 50-day moving average is $162.91 and its 200-day moving average is $151.64.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Thursday, September 19th. Broadcom’s payout ratio is currently 184.19%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial upped their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday. William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Bank of America reaffirmed a “buy” rating and set a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Rosenblatt Securities lowered their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $190.29.

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.