3,696 Shares in TD SYNNEX Co. (NYSE:SNX) Bought by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC bought a new stake in TD SYNNEX Co. (NYSE:SNX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,696 shares of the business services provider's stock, valued at approximately $435,000.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in shares of TD SYNNEX by 0.4% during the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock worth $2,607,000 after purchasing an additional 78 shares during the last quarter. CIBC Asset Management Inc lifted its position in TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider's stock worth $313,000 after acquiring an additional 86 shares during the last quarter. Amundi grew its position in shares of TD SYNNEX by 22.3% in the fourth quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after purchasing an additional 102 shares during the last quarter. Atria Investments Inc increased its stake in shares of TD SYNNEX by 4.1% during the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider's stock worth $344,000 after purchasing an additional 112 shares during the period. Finally, Highland Capital Management LLC lifted its holdings in TD SYNNEX by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider's stock worth $223,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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TD SYNNEX Stock Down 2.0 %

SNX traded down $2.54 during midday trading on Thursday, reaching $125.23. 606,657 shares of the company were exchanged, compared to its average volume of 726,893. The company has a market cap of $10.57 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a one year low of $102.23 and a one year high of $145.10. The company's fifty day moving average price is $136.45 and its 200 day moving average price is $125.03.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a $0.44 dividend. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.41%. TD SYNNEX's dividend payout ratio (DPR) is 22.11%.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the sale, the chief financial officer now directly owns 48,362 shares of the company's stock, valued at $5,858,089.06. This represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick Zammit sold 6,823 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,342,766 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on SNX. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Royal Bank of Canada lifted their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Finally, Barclays upped their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $147.50.

About TD SYNNEX

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.