11,536 Shares in Avnet, Inc. (NASDAQ:AVT) Acquired by Nomura Holdings Inc.

Nomura Holdings Inc. purchased a new position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,536 shares of the company's stock, valued at approximately $604,000.

Several other large investors also recently bought and sold shares of the stock. GeoWealth Management LLC purchased a new position in Avnet during the 4th quarter worth approximately $31,000. Synergy Investment Management LLC acquired a new stake in shares of Avnet in the 4th quarter valued at approximately $38,000. Natixis raised its holdings in Avnet by 1,463.8% during the fourth quarter. Natixis now owns 735 shares of the company's stock worth $38,000 after purchasing an additional 688 shares during the last quarter. Bessemer Group Inc. raised its holdings in Avnet by 621.8% during the fourth quarter. Bessemer Group Inc. now owns 960 shares of the company's stock worth $50,000 after purchasing an additional 827 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in Avnet by 18.2% during the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock worth $72,000 after purchasing an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.

Insider Buying and Selling

In related news, VP Elizabeth Mcmullen sold 4,000 shares of the business's stock in a transaction that occurred on 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 transaction, the vice president now owns 14,626 shares in the company, valued at $772,252.80. The trade was a 21.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVT. Bank of America cut Avnet from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial lowered their price target on Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their price target on Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st.

Avnet Stock Performance

AVT stock traded down $0.45 on Friday, reaching $49.72. The company's stock had a trading volume of 452,245 shares, compared to its average volume of 750,805. The firm has a fifty day moving average of $48.35 and a two-hundred day moving average of $50.98. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The company has a market capitalization of $4.17 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. Avnet, Inc. has a 52 week low of $39.22 and a 52 week high of $59.24.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 earnings per share 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 analyst estimates of $5.25 billion. Avnet had a return on equity of 7.49% and a net margin of 1.41%. The company's revenue was down 6.0% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. As a group, analysts predict that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, June 4th. Avnet's dividend payout ratio (DPR) is presently 36.97%.

Avnet 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.