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

Consilium Wealth Advisory LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,432 shares of the semiconductor manufacturer's stock after selling 4,800 shares during the quarter. Broadcom accounts for approximately 1.0% of Consilium Wealth Advisory LLC's holdings, making the stock its 25th largest position. Consilium Wealth Advisory LLC's holdings in Broadcom were worth $2,082,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom during the 4th quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the fourth quarter worth $32,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 0.8%

Shares of AVGO traded up $1.89 during mid-day trading on Wednesday, reaching $251.26. 30,405,545 shares of the company's stock traded hands, compared to its average volume of 29,855,913. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock's 50-day moving average is $216.21 and its two-hundred day moving average is $210.74. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43. The stock has a market cap of $1.18 trillion, a P/E ratio of 94.10, a P/E/G ratio of 1.77 and a beta of 1.11.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 0.94%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

Broadcom declared that its Board of Directors has initiated a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. 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 note on Friday, May 30th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. Benchmark lifted their target price on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Cowen reissued a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Finally, Wall Street Zen cut Broadcom from a "buy" rating to a "hold" rating in a report on Sunday. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $276.09.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $250.35, for a total transaction of $200,280.00. Following the transaction, the director now directly owns 25,382 shares in the company, valued at $6,354,383.70. This trade represents a 3.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 849,134 shares of company stock valued at $163,760,949 in the last 90 days. Company insiders own 2.00% of the company's stock.

Broadcom 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.