Dimensional Fund Advisors LP Sells 98,702 Shares of Avnet, Inc. (NASDAQ:AVT)

Dimensional Fund Advisors LP decreased its position in Avnet, Inc. (NASDAQ:AVT) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,176,865 shares of the company’s stock after selling 98,702 shares during the period. Dimensional Fund Advisors LP owned 0.07% of Avnet worth $323,173,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. GeoWealth Management LLC acquired a new position in Avnet in the 4th quarter valued at $31,000. Synergy Investment Management LLC acquired a new position in shares of Avnet in the fourth quarter valued at about $38,000. Bessemer Group Inc. increased its position in Avnet by 621.8% during the fourth quarter. Bessemer Group Inc. now owns 960 shares of the company’s stock worth $50,000 after acquiring an additional 827 shares during the period. Principal Securities Inc. raised its stake in Avnet by 18.2% in the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after purchasing an additional 211 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Avnet by 30.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company’s stock valued at $76,000 after purchasing an additional 340 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $47.20 on Monday. The firm has a 50 day moving average of $48.17 and a 200-day moving average of $51.67. Avnet, Inc. has a 12 month low of $39.22 and a 12 month 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. The stock has a market capitalization of $4.08 billion, a PE ratio of 13.37, a PEG ratio of 1.13 and a beta of 1.04.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. On average, equities research analysts predict that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.80%. Avnet’s dividend payout ratio is currently 37.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Truist Financial dropped 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. Bank of America cut Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $58.00 to $48.00 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.