Universal Beteiligungs und Servicegesellschaft mbH Takes $5.81 Million Position in Avnet, Inc. (NASDAQ:AVT)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 110,985 shares of the company's stock, valued at approximately $5,807,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.13% of Avnet at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVT. GeoWealth Management LLC acquired a new stake in Avnet during the 4th quarter worth approximately $31,000. Synergy Investment Management LLC acquired a new stake in shares of Avnet in the fourth quarter worth $38,000. Natixis increased its position in shares of Avnet by 1,463.8% in the fourth quarter. Natixis now owns 735 shares of the company's stock worth $38,000 after acquiring an additional 688 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Avnet by 621.8% during the 4th quarter. Bessemer Group Inc. now owns 960 shares of the company's stock valued at $50,000 after acquiring an additional 827 shares in the last quarter. Finally, Principal Securities Inc. lifted 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 worth $72,000 after purchasing an additional 211 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Avnet

In related news, VP Elizabeth Mcmullen sold 4,000 shares of the firm's stock in a transaction 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 transaction, 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 document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Avnet Stock Down 0.7%

Shares of Avnet stock traded down $0.38 on Wednesday, hitting $50.62. 640,032 shares of the company's stock traded hands, compared to its average volume of 743,474. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $59.24. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market cap of $4.24 billion, a P/E ratio of 14.34, a PEG ratio of 1.13 and a beta of 1.02. The firm's 50-day moving average is $48.69 and its 200 day moving average is $50.72.

Avnet (NASDAQ:AVT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.12. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.25 billion. Avnet had a net margin of 1.41% and a return on equity of 7.49%. The firm's revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. Equities analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.61%. Avnet's dividend payout ratio (DPR) is 36.97%.

Analyst Upgrades and Downgrades

AVT has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Truist Financial lowered their target price on Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday, May 1st.

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.