Atria Investments Inc Sells 3,250 Shares of Avnet, Inc. (NASDAQ:AVT)

Atria Investments Inc reduced its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,377 shares of the company’s stock after selling 3,250 shares during the quarter. Atria Investments Inc’s holdings in Avnet were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in Avnet by 11,848.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock valued at $148,623,000 after acquiring an additional 2,816,889 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Avnet by 204.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock valued at $37,489,000 after purchasing an additional 463,660 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Avnet by 227.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock valued at $11,197,000 after purchasing an additional 148,588 shares in the last quarter. FMR LLC increased its holdings in shares of Avnet by 24.7% in the third quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after purchasing an additional 114,217 shares during the last quarter. Finally, Weiss Asset Management LP lifted its position in shares of Avnet by 35.7% in the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after buying an additional 66,973 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

NASDAQ:AVT opened at $49.59 on Tuesday. The firm has a market capitalization of $4.29 billion, a PE ratio of 14.05, a PEG ratio of 1.13 and a beta of 1.09. The stock’s fifty day moving average is $51.55 and its 200 day moving average is $53.00. Avnet, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $59.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39.

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%. On average, sell-side analysts anticipate 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.66%. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial lowered their target price on 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 shares of Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $58.00 to $48.00 in a research note 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.