SG Americas Securities LLC Buys 12,904 Shares of Avnet, Inc. (NASDAQ:AVT)

SG Americas Securities LLC grew its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 167.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,601 shares of the company's stock after purchasing an additional 12,904 shares during the period. SG Americas Securities LLC's holdings in Avnet were worth $991,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its position in shares of Avnet by 2.1% during the fourth quarter. American Century Companies Inc. now owns 3,502,425 shares of the company's stock valued at $183,247,000 after purchasing an additional 72,715 shares in the last quarter. Bank of New York Mellon Corp grew its position in Avnet by 4.1% in 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 acquiring an additional 43,547 shares in the last quarter. Norges Bank purchased a new position in Avnet in the fourth quarter worth about $52,924,000. Lind Value II ApS grew its position in Avnet by 15.6% in the first quarter. Lind Value II ApS now owns 1,003,897 shares of the company's stock worth $48,277,000 after acquiring an additional 135,135 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Avnet by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 921,854 shares of the company's stock worth $48,231,000 after acquiring an additional 5,209 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.

Avnet Trading Up 0.2%

AVT traded up $0.09 on Friday, hitting $51.04. The company had a trading volume of 1,459,336 shares, compared to its average volume of 742,870. The company has a market cap of $4.28 billion, a PE ratio of 14.30, a PEG ratio of 1.72 and a beta of 1.02. Avnet, Inc. has a 12-month low of $39.22 and a 12-month high of $59.24. The company has a quick ratio of 1.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The business's fifty day simple moving average is $50.20 and its 200 day simple moving average is $50.44.

Avnet (NASDAQ:AVT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.84 earnings per share (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 business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. The company's revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts expect that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, June 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.59%. Avnet's dividend payout ratio (DPR) is presently 36.97%.

Insider Buying and Selling at Avnet

In other Avnet news, VP Elizabeth Mcmullen sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $52.80, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company dropped 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. Truist Financial dropped 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.

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.