Avnet, Inc. (NASDAQ:AVT) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,003 shares of the company’s stock after purchasing an additional 1,227 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.07% of Avnet worth $3,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AVT. Pacer Advisors Inc. grew its position in Avnet by 11,848.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock valued at $148,623,000 after buying an additional 2,816,889 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Avnet by 204.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock worth $37,489,000 after acquiring an additional 463,660 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Avnet by 227.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock valued at $11,197,000 after acquiring an additional 148,588 shares in the last quarter. FMR LLC raised its holdings in Avnet by 24.7% during the third quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after purchasing an additional 114,217 shares in the last quarter. Finally, Weiss Asset Management LP lifted its position in Avnet by 35.7% in the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after purchasing an additional 66,973 shares during the period. Institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

AVT has been the topic of several research analyst reports. Truist Financial lowered their price target on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th. Bank of America lowered Avnet from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $50.54 on Friday. The company’s fifty day moving average is $52.00 and its two-hundred day moving average is $53.23. The company has a market cap of $4.37 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.13 and a beta of 1.13. Avnet, Inc. has a 12-month low of $45.50 and a 12-month high of $59.24. 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 (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%. Equities analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is 37.39%.

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.