Consilium Wealth Advisory LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Consilium Wealth Advisory LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 977.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,295 shares of the semiconductor manufacturer’s stock after purchasing an additional 15,690 shares during the period. Broadcom makes up about 1.6% of Consilium Wealth Advisory LLC’s holdings, making the stock its 19th biggest holding. Consilium Wealth Advisory LLC’s holdings in Broadcom were worth $2,983,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Castleview Partners LLC grew its position in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares during the period. Delta Asset Management LLC TN lifted its holdings in shares of Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares during the last quarter. Tsfg LLC boosted its position in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Broadcom in the 3rd quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC bought a new position in Broadcom during the 3rd quarter valued at approximately $45,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Oppenheimer lowered their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Rosenblatt Securities reduced their price objective 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, TD Cowen raised shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Broadcom Price Performance

Broadcom stock opened at $183.64 on Friday. The company has a market cap of $857.71 billion, a P/E ratio of 159.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.17. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42. The business has a fifty day moving average of $170.75 and a two-hundred day moving average of $157.78. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

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

Broadcom Increases Dividend

The company also recently announced 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 a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.15%. Broadcom’s dividend payout ratio is 184.19%.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the 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 sale, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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.