Atlas Capital Advisors Inc. Purchases 518 Shares of Avnet, Inc. (NASDAQ:AVT)

Atlas Capital Advisors Inc. lifted its position in shares of Avnet, Inc. (NASDAQ:AVT) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,645 shares of the company’s stock after purchasing an additional 518 shares during the period. Atlas Capital Advisors Inc.’s holdings in Avnet were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Synergy Investment Management LLC bought a new position in Avnet during the 4th quarter worth $38,000. Principal Securities Inc. lifted its stake in shares of Avnet by 18.2% in the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after acquiring an additional 211 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in Avnet by 1,768.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company’s stock valued at $113,000 after acquiring an additional 2,051 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Avnet by 18.6% in the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after acquiring an additional 341 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Avnet during the 4th quarter valued at approximately $146,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Performance

NASDAQ:AVT opened at $42.26 on Friday. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a twelve month low of $40.93 and a twelve month high of $59.24. The company has a fifty day moving average of $49.57 and a 200-day moving average of $52.33. The firm has a market capitalization of $3.66 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.13 and a beta of 1.04.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate 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 year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a yield of 3.12%. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Bank of America cut shares of Avnet from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial decreased their price target on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a 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.