Activest Wealth Management Cuts Position in TD SYNNEX Co. (NYSE:SNX)

Activest Wealth Management lowered its position in shares of TD SYNNEX Co. (NYSE:SNX) by 13.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,448 shares of the business services provider’s stock after selling 2,000 shares during the quarter. TD SYNNEX comprises approximately 0.4% of Activest Wealth Management’s holdings, making the stock its 29th largest holding. Activest Wealth Management’s holdings in TD SYNNEX were worth $1,460,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC boosted its holdings in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of TD SYNNEX in the third quarter valued at $30,000. UMB Bank n.a. grew its holdings in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in TD SYNNEX during the 3rd quarter worth $37,000. Finally, Point72 DIFC Ltd purchased a new position in TD SYNNEX in the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

SNX has been the topic of a number of analyst reports. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. upped their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Barclays raised their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Wednesday, January 15th. Finally, StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $142.78 on Monday. The company has a market cap of $12.09 billion, a PE ratio of 17.94, a P/E/G ratio of 1.06 and a beta of 1.49. TD SYNNEX Co. has a fifty-two week low of $98.70 and a fifty-two week high of $144.27. The firm has a 50-day simple moving average of $128.51 and a 200 day simple moving average of $121.51. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now owns 48,362 shares of the company’s stock, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,289 shares of company stock valued at $3,639,500. Insiders own 1.90% of the company’s stock.

About TD SYNNEX

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.