Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Consilio Wealth Advisors LLC

Consilio Wealth Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,056.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,695 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,289 shares during the period. Consilio Wealth Advisors LLC’s holdings in Broadcom were worth $810,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Legend Financial Advisors Inc. lifted its stake in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Broadcom during the first quarter valued at approximately $29,000. Delta Asset Management LLC TN raised 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 acquiring an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Broadcom in the 1st quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC acquired a new position in Broadcom in the 4th quarter valued at approximately $43,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $0.65 during trading on Monday, reaching $177.29. The company had a trading volume of 5,698,477 shares, compared to its average volume of 31,066,662. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $185.16. The stock has a market cap of $825.26 billion, a PE ratio of 7.63, a PEG ratio of 2.78 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The business’s 50 day moving average price is $159.64 and its 200-day moving average price is $149.81.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping 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 company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Broadcom’s revenue was up 47.3% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 9.12%.

Insider Activity

In other news, CEO Hock E. Tan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $167.14, for a total value of $1,671,400.00. Following the completion of the transaction, the chief executive officer now owns 1,171,910 shares in the company, valued at $195,873,037.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the sale, the chief executive officer now directly owns 1,171,910 shares in the company, valued at $195,873,037.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,452 shares of company stock worth $52,950,238 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on AVGO. Truist Financial raised their price target on shares of Broadcom from $156.60 to $204.50 and gave the company a “buy” rating in a report on Thursday, June 13th. Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. UBS Group decreased their target price on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Piper Sandler lifted their target price on shares of Broadcom from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Finally, StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

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.