Citizens & Northern Corp Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Citizens & Northern Corp bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,200 shares of the semiconductor manufacturer's stock, valued at approximately $278,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Empower Advisory Group LLC raised its stake in Broadcom by 40.3% in the fourth quarter. Empower Advisory Group LLC now owns 341,753 shares of the semiconductor manufacturer's stock valued at $79,232,000 after buying an additional 98,096 shares during the period. Truist Financial Corp grew its position in Broadcom by 0.7% during the fourth quarter. Truist Financial Corp now owns 2,915,323 shares of the semiconductor manufacturer's stock worth $675,889,000 after buying an additional 20,986 shares in the last quarter. Pittenger & Anderson Inc. grew its position in Broadcom by 3.8% during the fourth quarter. Pittenger & Anderson Inc. now owns 64,235 shares of the semiconductor manufacturer's stock worth $14,892,000 after buying an additional 2,335 shares in the last quarter. Cutler Investment Counsel LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $239,000. Finally, Highview Capital Management LLC DE boosted its holdings in shares of Broadcom by 1.3% in the 4th quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock valued at $5,917,000 after purchasing an additional 322 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This 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 can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares of the company's stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 3.6 %

AVGO traded down $8.13 during mid-day trading on Friday, reaching $218.61. 24,786,947 shares of the stock were exchanged, compared to its average volume of 27,613,346. The company has a 50 day moving average price of $230.21 and a two-hundred day moving average price of $189.26. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The company's revenue was up 51.2% compared to the same quarter last year. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.08%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is currently 191.87%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised their target price on Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a report on Friday, December 13th. TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $225.04.

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.