Consilium Wealth Advisory LLC Sells 4,800 Shares of Broadcom Inc. (NASDAQ:AVGO)

Consilium Wealth Advisory LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,432 shares of the semiconductor manufacturer’s stock after selling 4,800 shares during the period. Broadcom makes up about 1.0% of Consilium Wealth Advisory LLC’s investment portfolio, making the stock its 25th largest holding. Consilium Wealth Advisory LLC’s holdings in Broadcom were worth $2,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Vista Investment Partners LLC bought a new stake in shares of Broadcom during the first quarter worth $2,091,000. Vicus Capital increased its position in shares of Broadcom by 15.8% during the first quarter. Vicus Capital now owns 4,284 shares of the semiconductor manufacturer’s stock worth $717,000 after acquiring an additional 586 shares in the last quarter. Inscription Capital LLC bought a new stake in shares of Broadcom during the first quarter worth $133,000. JLB & Associates Inc. increased its position in shares of Broadcom by 11.9% during the first quarter. JLB & Associates Inc. now owns 8,839 shares of the semiconductor manufacturer’s stock worth $1,480,000 after acquiring an additional 937 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC increased its position in shares of Broadcom by 2.9% during the first quarter. Blackston Financial Advisory Group LLC now owns 5,413 shares of the semiconductor manufacturer’s stock worth $906,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. Barclays raised their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, June 9th. Susquehanna raised their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a research report on Friday, June 6th. 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. Redburn Atlantic began coverage on shares of Broadcom in a research report on Wednesday, May 28th. They issued a “buy” rating and a $301.00 target price for the company. Finally, Rosenblatt Securities raised their target price on shares of Broadcom from $223.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.09.

Broadcom Stock Performance

NASDAQ AVGO opened at $252.10 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.19 trillion, a P/E ratio of 205.63, a P/E/G ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $265.43. The firm has a 50-day moving average price of $214.93 and a two-hundred day moving average price of $210.47.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.96 EPS. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s dividend payout ratio is currently 88.39%.

Broadcom declared that its Board of Directors has approved a stock repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares of the company’s stock, valued at $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 848,334 shares of company stock worth $163,560,669. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company 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.