Proficio Capital Partners LLC purchased a new position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 45,989 shares of the company's stock, valued at approximately $2,406,000. Proficio Capital Partners LLC owned approximately 0.05% of Avnet at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its stake in Avnet by 2.1% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 59,003 shares of the company's stock valued at $3,087,000 after buying an additional 1,227 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Avnet by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,116,697 shares of the company's stock valued at $58,426,000 after buying an additional 43,547 shares in the last quarter. TCW Group Inc. lifted its stake in Avnet by 3.3% in the 4th quarter. TCW Group Inc. now owns 61,094 shares of the company's stock valued at $3,196,000 after buying an additional 1,949 shares in the last quarter. Transcend Capital Advisors LLC lifted its stake in Avnet by 2.3% in the 4th quarter. Transcend Capital Advisors LLC now owns 16,652 shares of the company's stock valued at $871,000 after buying an additional 381 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Avnet by 2.3% in the 4th quarter. Allianz Asset Management GmbH now owns 873,340 shares of the company's stock valued at $45,693,000 after buying an additional 19,331 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.
Avnet Trading Up 2.6 %
Shares of Avnet stock traded up $1.29 during trading hours on Friday, reaching $50.44. 829,325 shares of the company's stock were exchanged, compared to its average volume of 623,250. Avnet, Inc. has a 52-week low of $45.50 and a 52-week high of $59.24. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The company has a fifty day moving average of $51.60 and a 200-day moving average of $53.05. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53.
Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly 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%. Sell-side analysts forecast that Avnet, Inc. will post 3.41 EPS for the current fiscal year.
Avnet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Wednesday, March 5th. Avnet's dividend payout ratio is presently 37.39%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on AVT shares. Bank of America lowered Avnet from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial reduced their target price on Avnet from $54.00 to $52.00 and set a "hold" rating on the stock in a research note on Thursday, January 30th.
Get Our Latest Analysis on AVT
Avnet Company Profile
(
Free Report)
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.
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