Avnet, Inc. (NASDAQ:AVT) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 16.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 337,314 shares of the company's stock after buying an additional 48,770 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.39% of Avnet worth $17,648,000 at the end of the most recent quarter.

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

Avnet Stock Down 1.4%

NASDAQ:AVT traded down $0.73 during mid-day trading on Friday, reaching $49.93. The company's stock had a trading volume of 598,087 shares, compared to its average volume of 744,056. 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, Inc. has a 1 year low of $39.22 and a 1 year high of $59.24. The stock has a fifty day moving average of $48.53 and a 200-day moving average of $50.76. The firm has a market capitalization of $4.19 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98.

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 net margin of 1.41% and a return on equity of 7.49%. 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 posted $1.10 EPS. The company's quarterly revenue was down 6.0% compared to the same quarter last year. Equities research analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Wednesday, June 4th. Avnet's dividend payout ratio (DPR) is currently 36.97%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AVT shares. 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 report on Thursday, May 1st. Truist Financial decreased their price target on shares of Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday, May 1st.

Insider Activity at Avnet

In other Avnet news, VP Elizabeth Mcmullen sold 4,000 shares of the firm'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 sale, the vice president now directly owns 14,626 shares in the company, valued at $772,252.80. This trade represents a 21.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

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.