Gutierrez Wealth Advisory LLC Makes New $663,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Gutierrez Wealth Advisory LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,861 shares of the semiconductor manufacturer’s stock, valued at approximately $663,000. Broadcom makes up approximately 0.5% of Gutierrez Wealth Advisory LLC’s investment portfolio, making the stock its 18th biggest holding.

Several other hedge funds have also bought and sold shares of the stock. Lee Danner & Bass Inc. lifted its stake in Broadcom by 48.1% in the 4th quarter. Lee Danner & Bass Inc. now owns 3,984 shares of the semiconductor manufacturer’s stock worth $924,000 after purchasing an additional 1,294 shares in the last quarter. Goodman Financial Corp lifted its stake in Broadcom by 39.9% in the 4th 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 in the last quarter. Truepoint Inc. lifted its stake in Broadcom by 12.1% in the 4th quarter. Truepoint Inc. now owns 4,238 shares of the semiconductor manufacturer’s stock worth $983,000 after purchasing an additional 456 shares in the last quarter. Independent Solutions Wealth Management LLC lifted its stake in Broadcom by 4.1% in the 4th quarter. Independent Solutions Wealth Management LLC now owns 51,140 shares of the semiconductor manufacturer’s stock worth $11,856,000 after purchasing an additional 2,004 shares in the last quarter. Finally, DCF Advisers LLC lifted its stake in Broadcom by 40.0% in the 4th quarter. DCF Advisers LLC now owns 7,000 shares of the semiconductor manufacturer’s stock worth $1,623,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. 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 research report on Friday, December 13th. Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Benchmark restated a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Activity

In other news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,168 shares of company stock worth $40,508,877. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $190.54 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $895.91 billion, a P/E ratio of 155.42, a P/E/G ratio of 2.29 and a beta of 1.01. The company’s 50-day simple moving average is $215.03 and its two-hundred day simple moving average is $194.59. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom Dividend Announcement

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

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.