Measured Wealth Private Client Group LLC Grows Position in Avnet, Inc. (NASDAQ:AVT)

Measured Wealth Private Client Group LLC boosted its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 2.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,191 shares of the company’s stock after buying an additional 374 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Avnet were worth $766,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AVT. CWM LLC lifted its position in shares of Avnet by 330.2% in the third quarter. CWM LLC now owns 641 shares of the company’s stock worth $31,000 after buying an additional 492 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Avnet by 46.5% in the 4th quarter. Venturi Wealth Management LLC now owns 655 shares of the company’s stock worth $33,000 after acquiring an additional 208 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Avnet during the 4th quarter worth approximately $40,000. GAMMA Investing LLC bought a new position in shares of Avnet during the 4th quarter valued at approximately $63,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Avnet by 19.1% in the third quarter. Parkside Financial Bank & Trust now owns 1,649 shares of the company’s stock valued at $79,000 after purchasing an additional 265 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Trading Up 1.6 %

Shares of AVT traded up $0.77 during midday trading on Friday, hitting $49.41. The stock had a trading volume of 746,177 shares, compared to its average volume of 581,849. The stock’s 50 day moving average is $47.92 and its 200 day moving average is $47.40. The firm has a market cap of $4.46 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.33 and a quick ratio of 1.05. Avnet, Inc. has a 1 year low of $40.44 and a 1 year high of $51.65.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.71 billion. Avnet had a net margin of 2.31% and a return on equity of 11.64%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 earnings per share. As a group, analysts forecast that Avnet, Inc. will post 5.19 EPS for the current fiscal year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Tuesday, March 5th. Avnet’s payout ratio is currently 20.06%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Avnet from $49.00 to $48.00 and set a “hold” rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their price target on shares of Avnet from $48.00 to $42.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.00.

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.