Vanguard Group Inc. Has $573.63 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Vanguard Group Inc. decreased its position in Avnet, Inc. (NASDAQ:AVT) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,963,795 shares of the company’s stock after selling 63,082 shares during the quarter. Vanguard Group Inc. owned 0.13% of Avnet worth $573,626,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AVT. Synergy Investment Management LLC bought a new stake in shares of Avnet in the fourth quarter worth $38,000. Principal Securities Inc. lifted its position in Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Avnet by 1,768.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company’s stock worth $113,000 after buying an additional 2,051 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 341 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Avnet by 55.7% in the fourth quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after acquiring an additional 1,200 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $58.00 to $48.00 in a research note 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 for the company in a research note on Thursday, January 30th.

Avnet Trading Up 1.9 %

Avnet stock opened at $48.09 on Tuesday. The stock has a 50-day simple moving average of $50.27 and a 200 day simple moving average of $52.50. The stock has a market capitalization of $4.16 billion, a P/E ratio of 13.62, a PEG ratio of 1.13 and a beta of 1.09. 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, Inc. has a 52 week low of $46.24 and a 52 week high of $59.24.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. Analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Wednesday, March 5th. Avnet’s payout ratio is presently 37.39%.

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.