Activest Wealth Management Reduces Stock Position in TD SYNNEX Co. (NYSE:SNX)

Activest Wealth Management trimmed its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,448 shares of the business services provider's stock after selling 2,000 shares during the quarter. TD SYNNEX accounts for approximately 0.4% of Activest Wealth Management's holdings, making the stock its 29th biggest holding. Activest Wealth Management's holdings in TD SYNNEX were worth $1,460,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SNX. Pathstone Holdings LLC boosted its stake in shares of TD SYNNEX by 45.2% during the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider's stock worth $2,197,000 after purchasing an additional 5,698 shares during the period. JPMorgan Chase & Co. lifted its stake in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Stratos Investment Management LLC boosted its position in shares of TD SYNNEX by 5.6% during the third quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider's stock valued at $3,376,000 after buying an additional 1,486 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of TD SYNNEX by 170.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 81,714 shares of the business services provider's stock valued at $9,812,000 after buying an additional 51,465 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of TD SYNNEX in the fourth quarter worth approximately $2,260,000. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Stock Down 0.2 %

NYSE SNX traded down $0.24 during trading on Thursday, reaching $141.71. 408,211 shares of the company's stock traded hands, compared to its average volume of 687,190. The company's 50 day simple moving average is $130.11 and its two-hundred day simple moving average is $122.15. TD SYNNEX Co. has a 12-month low of $99.31 and a 12-month high of $144.27. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.24%. The ex-dividend date was Friday, January 24th. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's dividend payout ratio (DPR) is 22.11%.

Analyst Ratings Changes

A number of research firms recently issued reports on SNX. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, January 13th. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Wednesday, January 15th. Cfra raised shares of TD SYNNEX from a "hold" rating to a "buy" rating and boosted their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, Barclays raised their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.38.

Insider Activity

In other news, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now owns 111,080 shares of the company's stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,289 shares of company stock worth $3,639,500. 1.90% of the stock is currently owned by company insiders.

About TD SYNNEX

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.