Callan Family Office LLC Has $6.96 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Callan Family Office LLC reduced its stake in Broadcom Inc. by 23.4%, selling 12,704 shares, leaving them with a total of 41,537 shares valued at approximately $6.95 million.
• Several institutional investors have increased their positions in Broadcom, with Nuveen LLC acquiring a new stake worth over $6 billion and GAMMA Investing LLC increasing its position by 18,179.3%.
• Broadcom recently reported a quarterly earnings per share (EPS) of $1.58, surpassing analysts' expectations, and has a current consensus price target of $294.92 with a majority buy rating from investment analysts.

Callan Family Office LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,537 shares of the semiconductor manufacturer's stock after selling 12,704 shares during the period. Callan Family Office LLC's holdings in Broadcom were worth $6,955,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of 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 buying an additional 18,845 shares during the period. PARUS FINANCE UK Ltd grew its holdings in shares of Broadcom by 175.3% during the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after buying an additional 64,038 shares during the last quarter. Nebula Research & Development LLC grew its holdings in shares of Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after buying an additional 14,399 shares during the last quarter. Keener Financial Planning LLC grew its holdings in shares of Broadcom by 34.8% during the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after buying an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in Broadcom by 5.6% during the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the sale, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 830,516 shares of company stock worth $217,224,641. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AVGO. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Wall Street Zen cut Broadcom from a "buy" rating to a "hold" rating in a report on Saturday. Truist Financial set a $295.00 price objective on Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. KeyCorp raised their price objective on Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group initiated coverage on Broadcom in a research report on Thursday, July 10th. They issued a "buy" rating and a $315.00 target price for the company. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and an average price target of $294.92.

Broadcom Stock Performance

NASDAQ AVGO traded up $8.93 on Tuesday, hitting $312.83. The stock had a trading volume of 17,604,553 shares, compared to its average volume of 16,984,464. Broadcom Inc. has a one year low of $134.90 and a one year high of $313.44. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.47 trillion, a price-to-earnings ratio of 117.16, a P/E/G ratio of 2.16 and a beta of 1.15. The company's 50-day moving average is $275.10 and its two-hundred day moving average is $227.64.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the prior year, the firm earned $10.96 EPS. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom's dividend payout ratio (DPR) is 88.39%.

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.