Foster & Motley Inc. boosted its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,751 shares of the company's stock after purchasing an additional 5,935 shares during the quarter. Foster & Motley Inc. owned about 0.16% of Avnet worth $6,576,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVT. Legacy Advisors LLC bought a new position in Avnet during the first quarter valued at approximately $26,000. GeoWealth Management LLC bought a new position in Avnet during the fourth quarter valued at approximately $31,000. Natixis boosted its stake in Avnet by 1,463.8% during the fourth quarter. Natixis now owns 735 shares of the company's stock valued at $38,000 after buying an additional 688 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Avnet by 43.0% during the first quarter. TD Private Client Wealth LLC now owns 818 shares of the company's stock valued at $39,000 after buying an additional 246 shares during the last quarter. Finally, Curat Global LLC bought a new position in Avnet during the first quarter valued at approximately $42,000. 95.78% of the stock is owned by institutional investors.
Insider Transactions at Avnet
In other Avnet 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 transaction, the vice president directly owned 14,626 shares in the company, valued at $772,252.80. This represents a 21.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.
Avnet Trading Down 2.0%
NASDAQ AVT traded down $1.07 during trading hours on Friday, hitting $51.87. 907,219 shares of the company were exchanged, compared to its average volume of 639,110. The stock has a 50-day moving average price of $53.03 and a 200 day moving average price of $50.77. The company has a quick ratio of 1.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. Avnet, Inc. has a 52 week low of $39.22 and a 52 week high of $59.24. The stock has a market cap of $4.35 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06.
Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 net margin of 1.43% and a return on equity of 6.96%. The firm's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 earnings per share. Analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.
Avnet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.32 annualized dividend and a yield of 2.5%. Avnet's dividend payout ratio (DPR) is presently 36.97%.
Wall Street Analyst Weigh In
AVT has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Avnet from $52.00 to $50.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company reduced their price objective on Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st.
View Our Latest Analysis on Avnet
Avnet Company 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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