Merriman Wealth Management LLC Purchases 94 Shares of Broadcom Inc. (NASDAQ:AVGO)

Merriman Wealth Management LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 27.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 442 shares of the semiconductor manufacturer’s stock after buying an additional 94 shares during the quarter. Merriman Wealth Management LLC’s holdings in Broadcom were worth $710,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AVGO. Swedbank AB acquired a new stake in Broadcom during the first quarter valued at approximately $2,835,737,000. Vanguard Group Inc. lifted its position in shares of Broadcom by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after buying an additional 1,303,462 shares during the period. Jennison Associates LLC boosted its stake in Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after buying an additional 1,263,957 shares in the last quarter. Capital International Investors boosted its stake in Broadcom by 4.5% in the 4th quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock valued at $26,044,294,000 after buying an additional 1,006,223 shares in the last quarter. Finally, GQG Partners LLC grew its position in Broadcom by 48.9% in the first quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after acquiring an additional 983,328 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AVGO. Sanford C. Bernstein boosted their target price on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Jefferies Financial Group boosted their price target on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Truist Financial raised their price objective on shares of Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a report on Thursday, June 13th. Mizuho boosted their target price on Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, The Goldman Sachs Group raised their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 2.2 %

NASDAQ:AVGO opened at $171.10 on Friday. Broadcom Inc. has a 1 year low of $79.51 and a 1 year high of $185.16. The stock has a 50-day moving average price of $156.81 and a two-hundred day moving average price of $146.91. The stock has a market cap of $796.45 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 2.55 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its 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. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. As a group, equities analysts expect that Broadcom Inc. will post 3.77 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

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.