CANADA LIFE ASSURANCE Co cut its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,045 shares of the company's stock after selling 5,841 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.08% of Avnet worth $3,557,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Synergy Investment Management LLC acquired a new stake in Avnet during the 4th quarter valued at $38,000. Bessemer Group Inc. boosted its stake in shares of Avnet by 621.8% during the fourth quarter. Bessemer Group Inc. now owns 960 shares of the company's stock valued at $50,000 after acquiring an additional 827 shares during the last quarter. Principal Securities Inc. increased its position in Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock worth $72,000 after purchasing an additional 211 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Avnet by 30.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company's stock valued at $76,000 after purchasing an additional 340 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in Avnet by 1,768.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company's stock valued at $113,000 after purchasing an additional 2,051 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on AVT. Truist Financial lowered their price target on shares of Avnet from $54.00 to $52.00 and set a "hold" rating for the company in a report on Thursday, January 30th. Bank of America cut shares of Avnet from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th.
Get Our Latest Report on AVT
Avnet Trading Up 3.1 %
Shares of NASDAQ AVT traded up $1.45 on Thursday, reaching $48.44. 379,262 shares of the company traded hands, compared to its average volume of 743,814. The company has a 50 day moving average of $47.91 and a 200 day moving average of $51.45. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a fifty-two week low of $39.22 and a fifty-two week high of $59.24. The stock has a market capitalization of $4.19 billion, a PE ratio of 13.73, a P/E/G ratio of 1.13 and a beta of 1.04.
Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.12. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.25 billion. Avnet had a net margin of 1.41% and a return on equity of 7.49%. Avnet's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the business earned $1.10 EPS. On average, equities research analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.
Avnet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 annualized dividend and a yield of 2.73%. Avnet's dividend payout ratio is presently 37.39%.
Avnet Profile
(
Free Report)
Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.
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