Avnet, Inc. (NASDAQ:AVT) Shares Acquired by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC increased its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 6.1% during the first quarter, HoldingsChannel reports. The fund owned 5,446 shares of the company’s stock after buying an additional 311 shares during the period. Atlas Capital Advisors LLC’s holdings in Avnet were worth $270,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of Avnet during the 1st quarter worth $29,000. Venturi Wealth Management LLC increased its holdings in Avnet by 46.5% in the fourth quarter. Venturi Wealth Management LLC now owns 655 shares of the company’s stock valued at $33,000 after buying an additional 208 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Avnet during the 4th quarter valued at approximately $40,000. GAMMA Investing LLC purchased a new stake in shares of Avnet during the 4th quarter worth approximately $63,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Avnet by 40.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,450 shares of the company’s stock worth $73,000 after acquiring an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Ken E. Arnold sold 8,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $54.34, for a total transaction of $434,720.00. Following the sale, the senior vice president now owns 40,239 shares in the company, valued at $2,186,587.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Ken E. Arnold sold 8,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $54.34, for a total transaction of $434,720.00. Following the transaction, the senior vice president now directly owns 40,239 shares in the company, valued at approximately $2,186,587.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Philip R. Gallagher sold 19,532 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $51.63, for a total transaction of $1,008,437.16. Following the completion of the sale, the chief executive officer now owns 140,792 shares of the company’s stock, valued at $7,269,090.96. The disclosure for this sale can be found here. In the last three months, insiders sold 66,532 shares of company stock valued at $3,544,957. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reduced their price objective on Avnet from $49.00 to $48.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, Avnet currently has an average rating of “Hold” and an average price target of $45.00.

Avnet Stock Performance

Avnet stock opened at $50.93 on Friday. Avnet, Inc. has a fifty-two week low of $42.67 and a fifty-two week high of $55.46. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 8.24 and a beta of 1.19. The stock has a fifty day moving average of $52.19 and a two-hundred day moving average of $49.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 2.33.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Avnet had a return on equity of 11.64% and a net margin of 2.31%. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.00 EPS. On average, analysts anticipate that Avnet, Inc. will post 5.06 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Wednesday, June 5th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.43%. Avnet’s dividend payout ratio (DPR) is currently 20.06%.

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.