State of Alaska Department of Revenue Sells 320 Shares of Avnet, Inc. (NASDAQ:AVT)

State of Alaska Department of Revenue cut its stake in Avnet, Inc. (NASDAQ:AVT) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,912 shares of the company’s stock after selling 320 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Avnet worth $2,767,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Greenhaven Associates Inc. increased its stake in Avnet by 1.0% in the 4th quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company’s stock worth $207,336,000 after buying an additional 38,185 shares during the period. Pacer Advisors Inc. raised its stake in shares of Avnet by 11,848.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock valued at $148,623,000 after acquiring an additional 2,816,889 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Avnet by 204.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock valued at $37,489,000 after purchasing an additional 463,660 shares during the period. FMR LLC grew its stake in Avnet by 24.7% in 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 increased its holdings in Avnet by 35.7% during the 3rd 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. 95.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Truist Financial lowered their target price on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th. Bank of America cut shares of Avnet from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Trading Down 1.0 %

NASDAQ AVT opened at $50.00 on Monday. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. The company has a 50 day moving average price of $52.90 and a 200 day moving average price of $53.34. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $4.33 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.06 and a beta of 1.13.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. As a group, sell-side analysts forecast that Avnet, Inc. will post 3.57 EPS for the current fiscal year.

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.64%. 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.