Peak Retirement Planning Inc. bought a new stake in Avnet, Inc. (NASDAQ:AVT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,286 shares of the company's stock, valued at approximately $957,000.
A number of other large investors have also made changes to their positions in AVT. American Century Companies Inc. grew its position in Avnet by 2.1% in the fourth quarter. American Century Companies Inc. now owns 3,502,425 shares of the company's stock worth $183,247,000 after acquiring an additional 72,715 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Avnet by 11,848.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company's stock worth $148,623,000 after purchasing an additional 2,816,889 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Avnet by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,116,697 shares of the company's stock worth $58,426,000 after buying an additional 43,547 shares during the last quarter. Norges Bank purchased a new stake in Avnet in the 4th quarter valued at approximately $52,924,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Avnet by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 921,854 shares of the company's stock valued at $48,231,000 after purchasing an additional 5,209 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, VP Elizabeth Mcmullen sold 4,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $52.80, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by corporate insiders.
Avnet Trading Down 1.1%
Shares of NASDAQ AVT traded down $0.58 during trading on Wednesday, hitting $50.36. 466,494 shares of the company traded hands, compared to its average volume of 748,427. Avnet, Inc. has a 1 year low of $39.22 and a 1 year high of $59.24. The company has a 50-day moving average price of $48.41 and a 200-day moving average price of $50.84. The firm has a market capitalization of $4.22 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.13 and a beta of 0.98. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.
Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.12. Avnet had a net margin of 1.41% and a return on equity of 7.49%. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.25 billion. During the same period in the prior year, the company earned $1.10 EPS. The firm's revenue was down 6.0% on a year-over-year basis. On average, equities analysts predict that Avnet, Inc. will post 3.41 EPS for the current year.
Avnet Announces Dividend
The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.62%. Avnet's dividend payout ratio (DPR) is 36.97%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. Bank of America downgraded Avnet from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial cut their price target on Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a report on Thursday, May 1st. 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 note on Thursday, May 1st.
Read Our Latest Stock Report on AVT
Avnet 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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