Steward Partners Investment Advisory LLC Has $3.83 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Steward Partners Investment Advisory LLC grew its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 57.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,270 shares of the company's stock after acquiring an additional 26,772 shares during the quarter. Steward Partners Investment Advisory LLC owned about 0.08% of Avnet worth $3,833,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Summit Global Investments acquired a new position in shares of Avnet during the third quarter worth approximately $1,254,000. Capital Performance Advisors LLP bought a new stake in Avnet during the 3rd quarter valued at $51,000. Verdence Capital Advisors LLC boosted its position in Avnet by 19.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 8,414 shares of the company's stock worth $457,000 after acquiring an additional 1,398 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Avnet by 5.9% in the third quarter. Crossmark Global Holdings Inc. now owns 223,667 shares of the company's stock worth $12,147,000 after purchasing an additional 12,448 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Avnet by 3.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 36,052 shares of the company's stock valued at $1,958,000 after purchasing an additional 1,210 shares during the period. Institutional investors own 95.78% of the company's stock.

Avnet Price Performance

AVT stock traded down $0.85 during trading hours on Monday, hitting $49.59. 1,121,983 shares of the stock traded hands, compared to its average volume of 625,245. The stock has a 50-day simple moving average of $51.60 and a 200 day simple moving average of $53.04. The company has a market cap of $4.29 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.13 and a beta of 1.09. Avnet, Inc. has a one year low of $45.50 and a one year high of $59.24. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53.

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Avnet (NASDAQ:AVT - Get Free Report) last posted 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%. Equities analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.66%. Avnet's dividend payout ratio (DPR) is presently 37.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Bank of America downgraded shares of Avnet from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial decreased their price objective on shares of Avnet from $54.00 to $52.00 and set a "hold" rating for the company in a report on Thursday, January 30th.

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.