Avnet, Inc. (NASDAQ:AVT) Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC increased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 45.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,576 shares of the company’s stock after purchasing an additional 3,597 shares during the period. CreativeOne Wealth LLC’s holdings in Avnet were worth $606,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVT. Barclays PLC grew its holdings in shares of Avnet by 2.4% during the fourth quarter. Barclays PLC now owns 94,036 shares of the company’s stock worth $4,920,000 after buying an additional 2,194 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Avnet by 55.4% in the 4th quarter. Sterling Capital Management LLC now owns 5,321 shares of the company’s stock valued at $278,000 after acquiring an additional 1,898 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Avnet by 34.5% during the 4th quarter. Neuberger Berman Group LLC now owns 15,482 shares of the company’s stock worth $810,000 after purchasing an additional 3,974 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Avnet during the fourth quarter worth $1,398,000. Finally, Bessemer Group Inc. grew its position in shares of Avnet by 621.8% in the fourth quarter. Bessemer Group Inc. now owns 960 shares of the company’s stock valued at $50,000 after purchasing an additional 827 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AVT. Bank of America lowered Avnet from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial dropped their price target on shares of Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, January 30th.

Avnet Stock Up 1.5 %

Shares of NASDAQ:AVT opened at $47.20 on Friday. The stock has a 50-day simple moving average of $48.17 and a 200-day simple moving average of $51.69. The stock has a market capitalization of $4.08 billion, a P/E ratio of 13.37, a PEG ratio of 1.13 and a beta of 1.04. Avnet, Inc. has a 1 year low of $39.22 and a 1 year high of $59.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39.

Avnet (NASDAQ:AVT) last released 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%. Equities analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Wednesday, March 5th. Avnet’s payout ratio is 37.39%.

About Avnet

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.