Avnet, Inc. (NASDAQ:AVT) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 921,854 shares of the company’s stock after purchasing an additional 5,209 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.06% of Avnet worth $48,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AVT. FMR LLC boosted its stake in Avnet by 24.7% during 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 in the last quarter. Harbor Capital Advisors Inc. raised its holdings 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 worth $11,197,000 after acquiring an additional 148,588 shares in the last quarter. Weiss Asset Management LP increased its position in Avnet by 35.7% during 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 during the last quarter. JPMorgan Chase & Co. increased its position in Avnet by 13.2% during the third 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 during the last quarter. Finally, Park Avenue Securities LLC grew its position in shares of Avnet by 22.6% in the fourth quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock valued at $312,000 after purchasing an additional 1,101 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial cut their price target 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 Stock Performance

NASDAQ:AVT opened at $47.79 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $4.13 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The firm has a 50 day moving average of $51.17 and a 200-day moving average of $52.82. Avnet, Inc. has a 1 year low of $45.50 and a 1 year high of $59.24.

Avnet (NASDAQ:AVT) last issued 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 7.49%. As a group, sell-side analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is 37.39%.

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.