Avnet, Inc. (NASDAQ:AVT) Shares Purchased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC grew its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,652 shares of the company’s stock after purchasing an additional 381 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Avnet were worth $871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Avnet during the 3rd quarter worth approximately $51,000. Principal Securities Inc. boosted its stake in Avnet by 18.2% during the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after buying an additional 211 shares during the last quarter. GAMMA Investing LLC boosted its stake in Avnet by 18.6% during the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock worth $114,000 after buying an additional 341 shares during the last quarter. KBC Group NV boosted its stake in Avnet by 55.7% during the fourth quarter. KBC Group NV now owns 3,356 shares of the company’s stock worth $176,000 after buying an additional 1,200 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Avnet by 442.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 3,697 shares of the company’s stock worth $200,000 after buying an additional 3,015 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Avnet Stock Performance

Shares of Avnet stock opened at $51.85 on Friday. Avnet, Inc. has a 52 week low of $45.45 and a 52 week high of $59.24. The business’s fifty day simple moving average is $52.20 and its 200-day simple moving average is $53.27. The firm has a market cap of $4.49 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.13. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

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 return on equity of 7.49% and a net margin of 1.41%. Equities analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is 37.39%.

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.