LPL Financial LLC Boosts Stock Position in Avnet, Inc. (NASDAQ:AVT)

LPL Financial LLC lifted its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,602 shares of the company’s stock after buying an additional 5,334 shares during the quarter. LPL Financial LLC owned approximately 0.05% of Avnet worth $2,386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVT. Synergy Investment Management LLC purchased a new stake in Avnet during the 4th quarter worth approximately $38,000. Principal Securities Inc. increased its position in shares of 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 purchasing an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Avnet by 1,768.1% during the fourth 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 in the last quarter. GAMMA Investing LLC raised its stake in Avnet by 18.6% in 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 during the last quarter. Finally, KBC Group NV lifted its holdings in Avnet by 55.7% in the 4th quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after purchasing an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Up 2.1 %

Shares of NASDAQ:AVT opened at $45.66 on Monday. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $59.24. The stock has a market cap of $3.95 billion, a P/E ratio of 12.93, a PEG ratio of 1.13 and a beta of 1.04. The business has a fifty day moving average of $48.51 and a two-hundred day moving average of $51.91. 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 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, research analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 annualized dividend and a yield of 2.89%. Avnet’s dividend payout ratio (DPR) is 37.39%.

Wall Street Analyst Weigh In

AVT has been the subject of a number of research reports. Truist Financial dropped their target price 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. Bank of America cut shares of 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 research note 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.