Avnet, Inc. (NASDAQ:AVT) Stock Position Increased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lifted its position in Avnet, Inc. (NASDAQ:AVT) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,884 shares of the company’s stock after buying an additional 660 shares during the period. Transcend Capital Advisors LLC’s holdings in Avnet were worth $818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of Avnet in the 1st quarter worth $29,000. Venturi Wealth Management LLC grew its holdings in shares of 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. Hexagon Capital Partners LLC grew its holdings in shares of Avnet by 1,113.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 898 shares of the company’s stock worth $45,000 after acquiring an additional 824 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Avnet in the 4th quarter worth $63,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Avnet by 40.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,450 shares of the company’s stock worth $73,000 after acquiring an additional 420 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Insider Activity

In other Avnet news, CEO Philip R. Gallagher sold 19,532 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $51.63, for a total value of $1,008,437.16. Following the transaction, the chief executive officer now owns 140,792 shares in the company, valued at $7,269,090.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Avnet news, CEO Philip R. Gallagher sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $53.74, for a total value of $1,612,200.00. Following the transaction, the chief executive officer now owns 139,709 shares in the company, valued at $7,507,961.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Philip R. Gallagher sold 19,532 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $51.63, for a total value of $1,008,437.16. Following the completion of the sale, the chief executive officer now directly owns 140,792 shares of the company’s stock, valued at approximately $7,269,090.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,532 shares of company stock worth $3,544,957. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Truist Financial decreased their target price on Avnet from $49.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Avnet presently has an average rating of “Hold” and a consensus target price of $45.00.

Avnet Stock Down 1.4 %

Shares of AVT stock traded down $0.73 on Monday, reaching $50.03. 266,973 shares of the company’s stock traded hands, compared to its average volume of 600,156. Avnet, Inc. has a 12-month low of $42.67 and a 12-month high of $55.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.05 and a current ratio of 2.33. The company has a market capitalization of $4.52 billion, a P/E ratio of 7.96 and a beta of 1.16. The business’s 50 day moving average price is $52.77 and its two-hundred day moving average price is $49.80.

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.31 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.48%. Avnet’s dividend payout ratio is 20.06%.

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.