Atlas Capital Advisors Inc. Has $262,000 Holdings in Avnet, Inc. (NASDAQ:AVT)

Key Points

• Atlas Capital Advisors Inc. has reduced its stake in Avnet, Inc. by 48.9%, selling 5,206 shares and leaving them with 5,439 shares valued at $262,000.
• Selling activity includes a significant transaction by VP Elizabeth Mcmullen, who sold 4,000 shares at $52.80, decreasing her holdings by 21.48%.
• Analysts have mixed views on Avnet, with Truist Financial raising its price target to $54.00 while Wells Fargo lowered its target to $43.00.

Atlas Capital Advisors Inc. decreased its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 48.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,439 shares of the company's stock after selling 5,206 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in Avnet were worth $262,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AVT. Legacy Advisors LLC acquired a new position in Avnet in the 1st quarter valued at $26,000. GeoWealth Management LLC bought a new position in shares of Avnet during the 4th quarter worth about $31,000. Natixis lifted its holdings in shares of Avnet by 1,463.8% during the 4th quarter. Natixis now owns 735 shares of the company's stock worth $38,000 after acquiring an additional 688 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Avnet by 43.0% during the 1st quarter. TD Private Client Wealth LLC now owns 818 shares of the company's stock worth $39,000 after acquiring an additional 246 shares during the period. Finally, Curat Global LLC bought a new position in shares of Avnet during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 95.78% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVT. Truist Financial increased their target price on shares of Avnet from $50.00 to $54.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Bank of America raised their price objective on shares of Avnet from $48.00 to $50.00 and gave the company an "underperform" rating in a research report on Monday. Finally, Wells Fargo & Company lowered their price objective on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st.

Avnet Trading Up 3.1%

Shares of NASDAQ:AVT traded up $1.60 during trading on Tuesday, hitting $53.34. 571,715 shares of the company's stock were exchanged, compared to its average volume of 854,558. Avnet, Inc. has a 1-year low of $39.22 and a 1-year high of $59.24. The firm has a 50-day moving average price of $53.22 and a two-hundred day moving average price of $50.65. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The firm has a market cap of $4.47 billion, a P/E ratio of 19.54, a PEG ratio of 1.23 and a beta of 1.06.

Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.09. The firm had revenue of $5.62 billion during the quarter, compared to analysts' expectations of $5.36 billion. Avnet had a net margin of 1.08% and a return on equity of 6.07%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share. Equities analysts predict that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.5%. Avnet's payout ratio is currently 48.35%.

Avnet Company Profile

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.