Wealthfront Advisers LLC Invests $1.92 Million in TD SYNNEX Co. (NYSE:SNX)

Wealthfront Advisers LLC acquired a new stake in TD SYNNEX Co. (NYSE:SNX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 16,393 shares of the business services provider's stock, valued at approximately $1,923,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in TD SYNNEX in the 4th quarter valued at about $5,158,000. Pathstone Holdings LLC increased its position in TD SYNNEX by 45.2% in the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider's stock valued at $2,197,000 after acquiring an additional 5,698 shares in the last quarter. JPMorgan Chase & Co. increased its position in TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock valued at $361,707,000 after acquiring an additional 813,634 shares in the last quarter. IFP Advisors Inc increased its position in TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock valued at $119,000 after acquiring an additional 918 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in TD SYNNEX in the 4th quarter valued at about $2,260,000. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Trading Up 2.5 %

TD SYNNEX stock traded up $3.28 during midday trading on Wednesday, hitting $132.13. 521,754 shares of the stock were exchanged, compared to its average volume of 722,731. The company has a fifty day simple moving average of $137.14 and a two-hundred day simple moving average of $125.22. TD SYNNEX Co. has a 52 week low of $102.23 and a 52 week high of $145.10. The stock has a market capitalization of $11.15 billion, a PE ratio of 16.60, a P/E/G ratio of 1.06 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

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TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a $0.44 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a yield of 1.33%. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's payout ratio is presently 22.11%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now owns 111,080 shares of the company's stock, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,662 shares of company stock valued at $6,159,860. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SNX shares. StockNews.com upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Tuesday. Cfra upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price target for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Barclays lifted their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada lifted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX presently has a consensus rating of "Moderate Buy" and an average target price 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.