Mercer Global Advisors Inc. ADV Sells 117,479 Shares of Broadcom Inc. (NASDAQ:AVGO)

Mercer Global Advisors Inc. ADV decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 834,525 shares of the semiconductor manufacturer's stock after selling 117,479 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Broadcom were worth $187,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Canton Hathaway LLC purchased a new stake in Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter valued at $26,000. Sellwood Investment Partners LLC purchased a new stake in Broadcom during the fourth quarter valued at $32,000. Bellevue Asset Management LLC purchased a new position in Broadcom in the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $35,000. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Shares of AVGO stock traded up $6.31 during trading hours on Friday, hitting $203.64. The stock had a trading volume of 17,749,359 shares, compared to its average volume of 31,190,347. The stock's 50-day moving average price is $182.21 and its two-hundred day moving average price is $196.48. Broadcom Inc. has a one year low of $124.71 and a one year high of $251.88. The stock has a market capitalization of $957.50 billion, a price-to-earnings ratio of 166.10, a PEG ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom declared that its board has approved a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.16%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday. Benchmark reissued a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Barclays decreased their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Company 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.