5,743 Shares in Avnet, Inc. (NASDAQ:AVT) Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. acquired a new position in Avnet, Inc. (NASDAQ:AVT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,743 shares of the company's stock, valued at approximately $300,000.

Several other hedge funds have also modified their holdings of the company. Synergy Investment Management LLC bought a new position in shares of Avnet in the 4th quarter valued at about $38,000. Principal Securities Inc. raised its position in 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. GAMMA Investing LLC lifted its stake in shares of Avnet by 18.6% in the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company's stock valued at $114,000 after purchasing an additional 341 shares during the last quarter. KBC Group NV increased its position in shares of Avnet by 55.7% during the 4th quarter. KBC Group NV now owns 3,356 shares of the company's stock valued at $176,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Longboard Asset Management LP purchased a new stake in Avnet during the 4th quarter valued at $207,000. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Trading Down 1.6 %

AVT traded down $0.78 during trading hours on Friday, reaching $47.19. 706,502 shares of the company's stock traded hands, compared to its average volume of 690,553. The firm has a 50-day moving average price of $50.38 and a 200 day moving average price of $52.50. The firm has a market capitalization of $4.08 billion, a PE ratio of 13.37, a PEG ratio of 1.13 and a beta of 1.09. 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 52-week low of $46.24 and a 52-week high of $59.24.

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Avnet (NASDAQ:AVT - Get Free Report) last issued its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. As a group, sell-side analysts predict that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Wednesday, March 5th. Avnet's dividend payout ratio (DPR) is presently 37.39%.

Analysts Set New Price Targets

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

Avnet Company 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.