Corient Private Wealth LLC Purchases 2,579 Shares of Avnet, Inc. (NASDAQ:AVT)

Corient Private Wealth LLC raised its position in shares of Avnet, Inc. (NASDAQ:AVT) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,038 shares of the company’s stock after acquiring an additional 2,579 shares during the period. Corient Private Wealth LLC’s holdings in Avnet were worth $3,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AVT. Natixis Advisors LLC boosted its stake in shares of Avnet by 10.1% during the third quarter. Natixis Advisors LLC now owns 14,243 shares of the company’s stock valued at $774,000 after purchasing an additional 1,302 shares during the period. Pathstone Holdings LLC boosted its stake in shares of Avnet by 1.5% during the third quarter. Pathstone Holdings LLC now owns 51,247 shares of the company’s stock valued at $2,783,000 after purchasing an additional 769 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of Avnet during the third quarter valued at $209,000. FMR LLC boosted its stake in shares of Avnet by 24.7% during the third quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after purchasing an additional 114,217 shares during the period. Finally, CreativeOne Wealth LLC boosted its stake in shares of Avnet by 21.7% during the third quarter. CreativeOne Wealth LLC now owns 7,979 shares of the company’s stock valued at $433,000 after purchasing an additional 1,421 shares during the period. Institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

AVT has been the subject of a number of research reports. Truist Financial lowered their price objective on shares of Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, January 30th. Bank of America lowered shares of Avnet from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th.

Avnet Stock Down 2.4 %

NASDAQ:AVT opened at $46.99 on Friday. The firm has a market cap of $4.06 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The company has a 50-day moving average of $50.80 and a 200 day moving average of $52.59. Avnet, Inc. has a 1-year low of $46.24 and a 1-year high of $59.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 EPS 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%. As a group, research analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Wednesday, March 5th. Avnet’s payout ratio 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.