Freedom Investment Management Inc. Has $213,000 Position in Avnet, Inc. (NASDAQ:AVT)

Freedom Investment Management Inc. lessened its holdings in Avnet, Inc. (NASDAQ:AVT) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,925 shares of the company’s stock after selling 197 shares during the period. Freedom Investment Management Inc.’s holdings in Avnet were worth $213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AVT. Fifth Third Bancorp boosted its position in Avnet by 35.2% during the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock worth $42,000 after acquiring an additional 214 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Avnet in the third quarter worth approximately $51,000. nVerses Capital LLC acquired a new stake in shares of Avnet during the second quarter worth approximately $77,000. GAMMA Investing LLC grew its position in Avnet by 68.4% during the second quarter. GAMMA Investing LLC now owns 1,527 shares of the company’s stock valued at $79,000 after purchasing an additional 620 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Avnet by 90.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,712 shares of the company’s stock worth $88,000 after buying an additional 814 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

AVT has been the topic of a number of research reports. Stifel Nicolaus upped their price target on shares of Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Truist Financial upped their target price on Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price target on Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a report on Friday, August 9th.

Avnet Price Performance

NASDAQ AVT opened at $54.71 on Monday. The firm has a market cap of $4.76 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.02 and a beta of 1.16. The stock’s 50-day moving average is $54.34 and its two-hundred day moving average is $53.37. Avnet, Inc. has a fifty-two week low of $43.62 and a fifty-two week high of $59.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The firm’s revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business earned $1.61 EPS. On average, analysts anticipate that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Wednesday, December 4th. Avnet’s dividend payout ratio is currently 34.55%.

About Avnet

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.