Foster & Motley Inc. Raises Holdings in Avnet, Inc. (NASDAQ:AVT)

Foster & Motley Inc. increased its holdings in Avnet, Inc. (NASDAQ:AVT - Free Report) by 4.5% in the first 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 0.16% of Avnet worth $6,576,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Legacy Advisors LLC acquired a new position in Avnet in the 1st quarter worth about $26,000. GeoWealth Management LLC acquired a new position in Avnet in the 4th quarter worth about $31,000. Natixis raised its holdings in shares of Avnet by 1,463.8% during the fourth quarter. Natixis now owns 735 shares of the company's stock valued at $38,000 after acquiring an additional 688 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of 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 acquiring an additional 246 shares during the last quarter. Finally, Curat Global LLC acquired a new position in shares of Avnet during the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 95.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AVT shares. Wells Fargo & Company reduced their target price on Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Truist Financial reduced their target price on Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a report on Thursday, May 1st.

Insiders Place Their Bets

In related news, VP Elizabeth Mcmullen sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $52.80, for a total value of $211,200.00. Following the completion of the transaction, the vice president directly owned 14,626 shares in the company, valued at approximately $772,252.80. This represents a 21.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company's stock.

Avnet Price Performance

Shares of NASDAQ:AVT traded down $1.07 during midday trading on Friday, hitting $51.87. The company had a trading volume of 907,219 shares, compared to its average volume of 824,626. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $59.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 1.13. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. The business's 50-day simple moving average is $52.99 and its 200-day simple moving average is $50.77.

Avnet (NASDAQ:AVT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. Avnet had a return on equity of 6.96% and a net margin of 1.43%. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.25 billion. During the same quarter last year, the firm earned $1.10 earnings per share. The business's revenue for the quarter was down 6.0% on a year-over-year basis. On average, research analysts predict that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, June 4th. Avnet's dividend payout ratio is presently 36.97%.

About Avnet

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.