Avnet, Inc. (NASDAQ:AVT) Holdings Lifted by Quadrant Capital Group LLC

Quadrant Capital Group LLC increased its holdings in Avnet, Inc. (NASDAQ:AVT) by 30.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,456 shares of the company’s stock after acquiring an additional 340 shares during the period. Quadrant Capital Group LLC’s holdings in Avnet were worth $76,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Synergy Investment Management LLC acquired a new position in shares of Avnet in the fourth quarter worth $38,000. Principal Securities Inc. grew its position in Avnet by 18.2% in the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after acquiring an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in shares of Avnet by 1,768.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company’s stock worth $113,000 after purchasing an additional 2,051 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Avnet by 18.6% during the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after purchasing an additional 341 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Avnet in the 4th quarter valued at $146,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Performance

Shares of AVT opened at $44.74 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. Avnet, Inc. has a one year low of $39.22 and a one year high of $59.24. The company’s fifty day moving average price is $48.60 and its 200 day moving average price is $51.98. The company has a market capitalization of $3.87 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Avnet (NASDAQ:AVT) last announced its earnings results 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, analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, March 5th. Avnet’s payout ratio is currently 37.39%.

Analyst Ratings Changes

AVT has been the topic of several analyst reports. Truist Financial lowered their target price on shares of Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th. Bank of America lowered Avnet from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet 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.