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

Consilium Wealth Advisory LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 27.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 12,432 shares of the semiconductor manufacturer’s stock after selling 4,800 shares during the quarter. Broadcom makes up about 1.0% of Consilium Wealth Advisory LLC’s investment portfolio, making the stock its 25th biggest position. Consilium Wealth Advisory LLC’s holdings in Broadcom were worth $2,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after purchasing an additional 18,845 shares during the last quarter. Nebula Research & Development LLC increased its position in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after acquiring an additional 14,399 shares during the period. Kovack Advisors Inc. increased its position in Broadcom by 8.1% in the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer’s stock valued at $7,971,000 after acquiring an additional 2,570 shares during the period. SOA Wealth Advisors LLC. increased its position in Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock valued at $245,000 after acquiring an additional 355 shares during the period. Finally, Coppell Advisory Solutions LLC increased its position in Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer’s stock valued at $21,660,000 after acquiring an additional 86,884 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 1.4%

Shares of NASDAQ AVGO opened at $252.10 on Tuesday. The firm has a market cap of $1.19 trillion, a PE 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 company’s fifty day simple moving average is $214.93 and its 200 day simple moving average is $210.47. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the firm earned $10.96 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its board has authorized a share repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom’s dividend payout ratio is currently 88.39%.

Insider Activity

In other news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer now directly owns 1,014,152 shares in the company, valued at $256,489,182.32. This trade represents a 10.40% 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, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 848,334 shares of company stock worth $163,560,669 over the last three months. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Barclays upped their price target 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. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. UBS Group upped their price target on shares of Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, Redburn Atlantic started coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a “buy” rating and a $301.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.09.

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.