Avnet, Inc. (NASDAQ:AVT) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,176,865 shares of the company's stock after selling 98,702 shares during the period. Dimensional Fund Advisors LP owned about 7.14% of Avnet worth $323,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVT. GeoWealth Management LLC purchased a new position in Avnet in the 4th quarter valued at about $31,000. Synergy Investment Management LLC purchased a new position in Avnet in the fourth quarter valued at about $38,000. Bessemer Group Inc. grew its stake in 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 purchasing an additional 827 shares in the last quarter. Principal Securities Inc. increased its holdings in Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock worth $72,000 after purchasing an additional 211 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Avnet by 30.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company's stock worth $76,000 after purchasing an additional 340 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AVT. Bank of America downgraded shares of Avnet from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial dropped their target price on shares of Avnet from $54.00 to $52.00 and set a "hold" rating for the company in a research report on Thursday, January 30th.

Avnet Stock Performance

Shares of AVT stock traded up $0.24 on Friday, hitting $51.94. 717,056 shares of the stock traded hands, compared to its average volume of 738,704. The company's fifty day moving average is $48.05 and its 200 day moving average is $51.55. Avnet, Inc. has a 1-year low of $39.22 and a 1-year high of $59.24. The company has a market capitalization of $4.49 billion, a PE ratio of 14.71, a PEG ratio of 1.13 and a beta of 1.04. 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 issued its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. On average, equities research analysts predict that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Wednesday, March 5th. Avnet's dividend payout ratio (DPR) is presently 37.39%.

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.