KFG Wealth Management LLC Has $408,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

KFG Wealth Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 7.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,435 shares of the semiconductor manufacturer’s stock after buying an additional 174 shares during the quarter. KFG Wealth Management LLC’s holdings in Broadcom were worth $408,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AVGO. Norges Bank bought a new position in shares of Broadcom during the fourth quarter worth about $16,893,010,000. GAMMA Investing LLC grew its stake in shares of Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock worth $2,892,548,000 after acquiring an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock worth $11,018,089,000 after acquiring an additional 15,171,849 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Broadcom by 200.0% in the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Justine Page sold 800 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the sale, the director now owns 26,182 shares of the company’s stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 38,798,721 shares of the company’s stock, 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. In the last three months, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $246.95 on Friday. 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 firm has a market cap of $1.16 trillion, a price-to-earnings ratio of 201.43, a P/E/G ratio of 2.29 and a beta of 1.11. The stock’s fifty day moving average price is $203.73 and its two-hundred day moving average price is $206.52. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.98 billion. During the same quarter in the previous year, the business posted $10.96 earnings per share. Broadcom’s quarterly revenue was up 20.2% on a year-over-year basis. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has approved a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.96%. Broadcom’s dividend payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AVGO shares. Oppenheimer raised their target price on shares of Broadcom from $225.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. KeyCorp raised their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Thursday. Susquehanna raised their price target on Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research note on Friday. Finally, Truist Financial set a $295.00 price target on Broadcom and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.25.

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.