Gutierrez Wealth Advisory LLC Purchases New Shares in Broadcom Inc. (NASDAQ:AVGO)

Gutierrez Wealth Advisory LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,861 shares of the semiconductor manufacturer’s stock, valued at approximately $663,000. Broadcom accounts for 0.5% of Gutierrez Wealth Advisory LLC’s holdings, making the stock its 18th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Lee Danner & Bass Inc. grew its position in shares of Broadcom by 48.1% in the fourth quarter. Lee Danner & Bass Inc. now owns 3,984 shares of the semiconductor manufacturer’s stock valued at $924,000 after purchasing an additional 1,294 shares during the period. Goodman Financial Corp raised its stake in Broadcom by 39.9% during the fourth quarter. Goodman Financial Corp now owns 3,655 shares of the semiconductor manufacturer’s stock worth $847,000 after purchasing an additional 1,043 shares during the period. Truepoint Inc. raised its stake in shares of Broadcom by 12.1% in the 4th quarter. Truepoint Inc. now owns 4,238 shares of the semiconductor manufacturer’s stock valued at $983,000 after acquiring an additional 456 shares during the period. Independent Solutions Wealth Management LLC raised its stake in shares of Broadcom by 4.1% in the 4th quarter. Independent Solutions Wealth Management LLC now owns 51,140 shares of the semiconductor manufacturer’s stock valued at $11,856,000 after acquiring an additional 2,004 shares during the period. Finally, DCF Advisers LLC raised its stake in shares of Broadcom by 40.0% in the 4th quarter. DCF Advisers LLC now owns 7,000 shares of the semiconductor manufacturer’s stock valued at $1,623,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 2.6 %

Shares of AVGO stock opened at $190.54 on Friday. The stock has a market cap of $895.91 billion, a P/E ratio of 155.42, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a fifty day moving average price of $215.03 and a 200 day moving average price of $194.59. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.24%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVGO. Barclays lifted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. TD Cowen upped their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, Morgan Stanley upped their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Insider Activity

In related news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,168 shares of company stock worth $40,508,877. 2.00% of the stock is owned by corporate insiders.

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.