Commonwealth Equity Services LLC Purchases Shares of 5,948 Avnet, Inc. (NASDAQ:AVT)

Commonwealth Equity Services LLC bought a new stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,948 shares of the company's stock, valued at approximately $311,000.

Several other large investors also recently modified their holdings of AVT. FMR LLC lifted its position in shares of Avnet by 24.7% during the third quarter. FMR LLC now owns 576,794 shares of the company's stock worth $31,326,000 after purchasing an additional 114,217 shares during the last quarter. Captrust Financial Advisors lifted its stake in Avnet by 10.0% during the third quarter. Captrust Financial Advisors now owns 12,717 shares of the company's stock worth $691,000 after purchasing an additional 1,158 shares during the last quarter. Verition Fund Management LLC boosted its holdings in Avnet by 206.2% in the third quarter. Verition Fund Management LLC now owns 18,798 shares of the company's stock worth $1,021,000 after purchasing an additional 12,659 shares during the period. Kovitz Investment Group Partners LLC increased its stake in Avnet by 430.6% during the third quarter. Kovitz Investment Group Partners LLC now owns 24,208 shares of the company's stock valued at $1,289,000 after purchasing an additional 19,646 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Avnet during the third quarter worth $1,021,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AVT shares. Truist Financial decreased their price target on shares of Avnet from $54.00 to $52.00 and set a "hold" rating for the company in a report on Thursday, January 30th. Bank of America lowered Avnet from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $58.00 to $48.00 in a report on Thursday, January 30th.

Remove Ads

Avnet Stock Performance

Shares of NASDAQ AVT traded up $0.92 during midday trading on Friday, hitting $45.66. 976,396 shares of the company's stock were exchanged, compared to its average volume of 722,050. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $59.24. The firm has a market cap of $3.95 billion, a P/E ratio of 12.93, a PEG ratio of 1.13 and a beta of 1.04. The stock's 50 day moving average price is $48.51 and its 200-day moving average price is $51.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. Equities research analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Wednesday, March 5th. Avnet's dividend payout ratio is currently 37.39%.

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.