3,579 Shares in TD SYNNEX Co. (NYSE:SNX) Acquired by Wealth Alliance

Wealth Alliance bought a new stake in shares of TD SYNNEX Co. (NYSE:SNX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,579 shares of the business services provider’s stock, valued at approximately $413,000.

Several other institutional investors have also recently made changes to their positions in the stock. ProShare Advisors LLC grew its position in shares of TD SYNNEX by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 86 shares in the last quarter. Fifth Third Bancorp grew its holdings in TD SYNNEX by 11.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after buying an additional 106 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of TD SYNNEX by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock valued at $889,000 after buying an additional 116 shares during the period. Blue Trust Inc. lifted its holdings in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after buying an additional 123 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

SNX has been the topic of a number of analyst reports. Bank of America decreased their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada upgraded TD SYNNEX from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $135.00 to $140.00 in a research report on Monday, July 15th. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Barrington Research reissued an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $128.25.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders sold a total of 35,188 shares of company stock worth $3,998,655 over the last three months. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $118.86 on Friday. The firm has a market capitalization of $10.16 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. TD SYNNEX Co. has a 12 month low of $89.73 and a 12 month high of $133.85. The business’s 50-day moving average price is $115.81 and its 200-day moving average price is $117.28.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. Sell-side analysts forecast that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, July 12th. TD SYNNEX’s dividend payout ratio is presently 22.41%.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.