Css LLC Il bought a new stake in Avnet, Inc. (NASDAQ:AVT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 9,752 shares of the company's stock, valued at approximately $510,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its position in Avnet by 87.6% in the 3rd quarter. Barclays PLC now owns 91,842 shares of the company's stock valued at $4,988,000 after buying an additional 42,880 shares during the period. Park Avenue Securities LLC grew its stake in Avnet by 22.6% during the 4th quarter. Park Avenue Securities LLC now owns 5,966 shares of the company's stock worth $312,000 after purchasing an additional 1,101 shares in the last quarter. Greenhaven Associates Inc. grew its stake in Avnet by 1.0% during the 4th quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company's stock worth $207,336,000 after purchasing an additional 38,185 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Avnet by 16.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 54,221 shares of the company's stock valued at $2,837,000 after buying an additional 7,800 shares during the period. Finally, Whalen Wealth Management Inc. acquired a new position in shares of Avnet during the fourth quarter worth about $247,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
Avnet Trading Down 1.7%
NASDAQ AVT opened at $50.04 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. Avnet, Inc. has a 12 month low of $39.22 and a 12 month high of $59.24. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The firm's fifty day moving average price is $48.29 and its 200 day moving average price is $51.04.
Avnet (NASDAQ:AVT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.25 billion. Avnet had a return on equity of 7.49% and a net margin of 1.41%. The business's quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.10 EPS. On average, sell-side analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.
Avnet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.64%. Avnet's dividend payout ratio (DPR) is presently 36.97%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on AVT shares. Truist Financial decreased their price target on shares of Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Finally, Bank of America lowered Avnet from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $58.00 to $48.00 in a report on Thursday, January 30th.
Get Our Latest Stock Analysis on AVT
Insider Transactions at Avnet
In other news, VP Elizabeth Mcmullen sold 4,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $52.80, for a total value of $211,200.00. Following the completion of the sale, the vice president now directly owns 14,626 shares of the company's stock, valued at approximately $772,252.80. This represents a 21.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.
About Avnet
(
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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