Avnet, Inc. (NASDAQ:AVT) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in Avnet, Inc. (NASDAQ:AVT - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,552,705 shares of the company's stock after selling 14,127 shares during the quarter. Geode Capital Management LLC owned about 1.79% of Avnet worth $81,698,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Synergy Investment Management LLC purchased a new stake in shares of Avnet during the 4th quarter valued at approximately $38,000. Principal Securities Inc. increased its position in shares of 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. Harvest Fund Management Co. Ltd lifted its position in Avnet by 1,768.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company's stock valued at $113,000 after buying an additional 2,051 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Avnet by 18.6% during the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company's stock worth $114,000 after purchasing an additional 341 shares during the period. Finally, KBC Group NV lifted its position in shares of Avnet by 55.7% during the fourth quarter. KBC Group NV now owns 3,356 shares of the company's stock worth $176,000 after purchasing an additional 1,200 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Stock Performance

Avnet stock traded down $0.05 during trading hours on Wednesday, reaching $46.40. 65,026 shares of the stock were exchanged, compared to its average volume of 896,882. The stock has a market cap of $4.01 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.13 and a beta of 1.04. The firm's 50 day moving average is $48.35 and its 200 day moving average is $51.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $59.24.

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Avnet (NASDAQ:AVT - Get Free Report) last posted 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 return on equity of 7.49% and a net margin of 1.41%. 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 paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.85%. Avnet's dividend payout ratio (DPR) is currently 37.39%.

Wall Street Analyst Weigh In

AVT has been the subject of several recent research reports. Bank of America cut shares of Avnet from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial lowered their target price on Avnet from $54.00 to $52.00 and set a "hold" rating for the company in a research note on Thursday, January 30th.

Avnet 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.