Occudo Quantitative Strategies LP bought a new position in Avnet, Inc. (NASDAQ:AVT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 19,277 shares of the company's stock, valued at approximately $1,009,000.
Other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of Avnet by 87.6% in the 3rd quarter. Barclays PLC now owns 91,842 shares of the company's stock worth $4,988,000 after acquiring an additional 42,880 shares during the period. Franklin Resources Inc. boosted its position in shares of Avnet by 17.1% during the 3rd quarter. Franklin Resources Inc. now owns 52,290 shares of the company's stock valued at $2,895,000 after acquiring an additional 7,619 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Avnet by 22.6% during the 4th quarter. Park Avenue Securities LLC now owns 5,966 shares of the company's stock valued at $312,000 after acquiring an additional 1,101 shares in the last quarter. Greenhaven Associates Inc. boosted its position in shares of Avnet by 1.0% during the 4th quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company's stock valued at $207,336,000 after acquiring an additional 38,185 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Avnet by 16.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 54,221 shares of the company's stock valued at $2,837,000 after buying an additional 7,800 shares in the last quarter. Institutional investors own 95.78% of the company's stock.
Avnet Stock Down 1.2%
Shares of AVT stock traded down $0.60 during trading hours on Monday, hitting $51.28. 50,646 shares of the company were exchanged, compared to its average volume of 750,343. The business has a 50 day moving average of $48.08 and a two-hundred day moving average of $51.07. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a 52 week low of $39.22 and a 52 week high of $59.24. The company has a market capitalization of $4.30 billion, a PE ratio of 14.53, a PEG ratio of 1.13 and a beta of 0.98.
Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.12. The company had revenue of $5.32 billion during 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 quarter in the prior year, the firm earned $1.10 earnings per share. Analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.
Avnet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Wednesday, June 4th. Avnet's dividend payout ratio (DPR) is 36.97%.
Insiders Place Their Bets
In related news, VP Elizabeth Mcmullen sold 4,000 shares of Avnet stock in a transaction that occurred 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 sale, the vice president now directly owns 14,626 shares of the company's stock, valued at approximately $772,252.80. The trade was a 21.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.50% of the company's stock.
Analysts Set New Price Targets
AVT has been the subject of a number of recent analyst reports. Truist Financial dropped 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. Wells Fargo & Company reduced their target price on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Finally, Bank of America lowered shares of Avnet from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th.
View Our Latest Analysis on AVT
Avnet Company 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.
Further Reading
Before you consider Avnet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Avnet wasn't on the list.
While Avnet currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
