Mercer Global Advisors Inc. ADV Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Mercer Global Advisors Inc. ADV grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 246.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 303,443 shares of the semiconductor manufacturer’s stock after buying an additional 215,913 shares during the period. Broadcom accounts for 1.2% of Mercer Global Advisors Inc. ADV’s portfolio, making the stock its 20th largest position. Mercer Global Advisors Inc. ADV’s holdings in Broadcom were worth $487,187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVGO. TBH Global Asset Management LLC raised its position in shares of Broadcom by 29.2% during the 4th quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock valued at $715,000 after buying an additional 145 shares in the last quarter. Gilbert & Cook Inc. raised its position in shares of Broadcom by 4.9% during the 4th quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock valued at $934,000 after buying an additional 39 shares in the last quarter. Aveo Capital Partners LLC raised its position in Broadcom by 15.9% in the 4th quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after purchasing an additional 63 shares during the period. 9258 Wealth Management LLC raised its position in Broadcom by 1.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock worth $4,336,000 after purchasing an additional 58 shares during the period. Finally, Gryphon Financial Partners LLC raised its position in Broadcom by 99.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock worth $1,731,000 after purchasing an additional 801 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 0.9 %

NASDAQ:AVGO opened at $162.47 on Wednesday. Broadcom Inc. has a one year low of $79.51 and a one year high of $185.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company’s 50-day simple moving average is $157.17 and its 200 day simple moving average is $146.21. The firm has a market capitalization of $756.28 billion, a P/E ratio of 6.99, a PEG ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.30%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 9.12%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays lifted their target price on shares of Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. 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. Sanford C. Bernstein raised their price target on shares of Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Finally, Rosenblatt Securities cut their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 2,540 shares of Broadcom stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now directly owns 27,480 shares of the company’s stock, valued at $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.