Avnet, Inc. (NASDAQ:AVT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 62.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,697 shares of the company’s stock after selling 12,827 shares during the period. SG Americas Securities LLC’s holdings in Avnet were worth $403,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Avnet by 24.7% in the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after purchasing an additional 114,217 shares during the period. Harbor Capital Advisors Inc. increased its stake in Avnet by 227.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock valued at $11,197,000 after buying an additional 148,588 shares during the period. Weiss Asset Management LP increased its stake in Avnet by 35.7% in the 3rd quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock valued at $13,829,000 after buying an additional 66,973 shares during the period. JPMorgan Chase & Co. lifted its position in Avnet by 13.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock worth $13,213,000 after buying an additional 28,453 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of Avnet by 22.6% during the 4th quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock valued at $312,000 after buying an additional 1,101 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Price Performance

Shares of Avnet stock opened at $51.66 on Monday. The firm has a market cap of $4.49 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14. The firm’s 50-day simple moving average is $53.35 and its 200-day simple moving average is $53.44. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25.

Avnet (NASDAQ:AVT) last announced its quarterly 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 net margin of 1.41% and a return on equity of 7.44%. As a group, research analysts expect that Avnet, Inc. will post 4.1 EPS for the current fiscal year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a $0.33 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.56%. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America lowered shares of Avnet from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $58.00 to $48.00 in a research report on Thursday. Truist Financial cut their price target on shares of Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday.

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.