Atlas Capital Advisors LLC Purchases 332 Shares of Avnet, Inc. (NASDAQ:AVT)

Atlas Capital Advisors LLC grew its position in Avnet, Inc. (NASDAQ:AVT) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,778 shares of the company’s stock after purchasing an additional 332 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Avnet were worth $298,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of AVT. Rise Advisors LLC bought a new stake in Avnet in the first quarter worth approximately $29,000. Fifth Third Bancorp increased its stake in shares of Avnet by 35.2% in the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $42,000 after acquiring an additional 214 shares in the last quarter. Hexagon Capital Partners LLC increased its stake 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 valued at $45,000 after acquiring an additional 824 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Avnet during the 4th quarter valued at $63,000. Finally, Quadrant Capital Group LLC boosted its stake in Avnet by 40.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,450 shares of the company’s stock worth $73,000 after acquiring an additional 420 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Avnet

In other news, SVP Ken E. Arnold sold 8,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $54.34, for a total transaction of $434,720.00. Following the completion of the transaction, the senior vice president now owns 40,239 shares in the company, valued at approximately $2,186,587.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Avnet Stock Up 0.7 %

AVT stock traded up $0.39 during trading on Friday, reaching $55.18. The stock had a trading volume of 1,188,588 shares, compared to its average volume of 602,600. The company has a quick ratio of 1.05, a current ratio of 2.33 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 8.93 and a beta of 1.16. Avnet, Inc. has a one year low of $42.67 and a one year high of $55.80. The company’s 50 day moving average is $52.79 and its two-hundred day moving average is $50.76.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.27. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Avnet had a return on equity of 11.64% and a net margin of 2.31%. The business’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. Equities research analysts forecast that Avnet, Inc. will post 5.06 EPS for the current year.

Avnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Wednesday, September 11th. This is a boost from Avnet’s previous quarterly dividend of $0.31. Avnet’s payout ratio is 21.36%.

Analyst Ratings Changes

Several research analysts have issued reports on AVT shares. Stifel Nicolaus increased their price target on Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Truist Financial increased their target price on Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price target on shares of Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Two 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, the company presently has an average rating of “Hold” and an average target price of $48.50.

Avnet 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.