Atala Financial Inc Buys New Shares in Avnet, Inc. (NASDAQ:AVT)

Atala Financial Inc purchased a new position in shares of Avnet, Inc. (NASDAQ:AVT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,384 shares of the company’s stock, valued at approximately $282,000.

A number of other hedge funds also recently bought and sold shares of AVT. Synergy Investment Management LLC purchased a new stake in shares of Avnet during the fourth quarter worth approximately $38,000. Principal Securities Inc. grew its holdings in Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after acquiring an additional 211 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Avnet by 18.6% in the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after purchasing an additional 341 shares during the last quarter. KBC Group NV raised its holdings in shares of Avnet by 55.7% in the 4th quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Longboard Asset Management LP purchased a new stake in shares of Avnet during the 4th quarter worth $207,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Trading Down 0.6 %

NASDAQ AVT opened at $46.61 on Friday. The firm’s fifty day moving average price is $51.35 and its 200 day moving average price is $52.91. Avnet, Inc. has a 12 month low of $45.50 and a 12 month high of $59.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. On average, sell-side analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Wednesday, March 5th. Avnet’s dividend payout ratio is currently 37.39%.

Analysts Set New Price Targets

AVT has been the topic of a number of analyst reports. Truist Financial cut their price target on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, January 30th. Bank of America lowered Avnet from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th.

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.