Raymond James Financial Inc. bought a new stake in Avnet, Inc. (NASDAQ:AVT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 624,551 shares of the company's stock, valued at approximately $32,676,000. Raymond James Financial Inc. owned 0.72% of Avnet as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Principal Securities Inc. boosted 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 valued at $72,000 after purchasing an additional 211 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Avnet by 5.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company's stock worth $246,000 after buying an additional 222 shares in the last quarter. Highland Capital Management LLC grew its position in shares of Avnet by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 4,234 shares of the company's stock worth $222,000 after buying an additional 261 shares during the period. GAMMA Investing LLC increased 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 acquiring an additional 341 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its stake in shares of 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 acquiring an additional 381 shares in the last quarter. Institutional investors own 95.78% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on AVT shares. Bank of America cut shares of Avnet from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial reduced their price target 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.
Read Our Latest Report on AVT
Avnet Stock Up 2.5 %
Shares of Avnet stock traded up $1.18 on Friday, hitting $47.79. The company had a trading volume of 633,006 shares, compared to its average volume of 628,776. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 1.13 and a beta of 1.09. 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 1 year low of $45.50 and a 1 year high of $59.24. The stock has a 50 day moving average of $51.17 and a 200-day moving average of $52.82.
Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate 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 forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.
Avnet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.32 annualized dividend and a yield of 2.76%. Avnet's dividend payout ratio (DPR) is 37.39%.
Avnet 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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