5 Stocks to Buy According to Peter Simmie’s Bristol Gate Capital

4. Broadcom Inc. (NASDAQ:AVGO)

Bristol Gate Capital Stake Value: $115,688,000
Percentage Bristol Gate Capital’s 13F Portfolio: 5.2%
Number of Hedge Fund Holders: 62

Broadcom Inc. (NASDAQ:AVGO) is a multinational technology firm that develops, manufactures, and sells semiconductors and infrastructure software. In Q4 2021, Bristol Gate Capital held 173,860 Broadcom Inc. (NASDAQ:AVGO) shares, worth $115.69 million, which accounted for 5.2% of the hedge fund’s portfolio.

As a consequence of Broadcom Inc. (NASDAQ:AVGO)’s strong Q4 results, KeyBanc analyst John Vinh boosted his price target to $720 from $710 on March 4 and maintained an Overweight rating on the stock. In addition, on March 3, Broadcom Inc. (NASDAQ:AVGO) declared a quarterly dividend of $4.10 per share, presenting a 14% increase from its prior dividend of $3.60.

At the end of the fourth quarter of 2021, 62 hedge funds in the database of Insider Monkey held stakes worth $4.79 billion in Broadcom Inc. (NASDAQ:AVGO), up from 50 the preceding quarter worth $2.71 billion.

Miller Howard Investments, in its third-quarter 2021 investor letter, mentioned Broadcom Inc. (NASDAQ:AVGO). Here is what the fund said:

“Technology remains important in our portfolios, although the sector weights have come down over the past year. We now hold Broadcom (AVGO) of which have strong growth prospects, yet attractive valuations in our view. Unlike many younger tech companies, we believe our holdings should significantly benefit from an upturn in the economy.”