Venturi Wealth Management LLC Purchases 5,076 Shares of Avnet, Inc. (NASDAQ:AVT)

Venturi Wealth Management LLC boosted its position in shares of Avnet, Inc. (NASDAQ:AVT) by 377.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,421 shares of the company’s stock after acquiring an additional 5,076 shares during the quarter. Venturi Wealth Management LLC’s holdings in Avnet were worth $336,000 at the end of the most recent reporting period.

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

Avnet Trading Down 0.0 %

Shares of NASDAQ:AVT opened at $52.51 on Friday. Avnet, Inc. has a 12-month low of $44.78 and a 12-month high of $59.24. The business has a 50 day moving average of $52.24 and a 200-day moving average of $53.24. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market cap of $4.54 billion, a PE ratio of 14.88, a P/E/G ratio of 1.14 and a beta of 1.13.

Avnet (NASDAQ:AVT) last released 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 return on equity of 7.49% and a net margin of 1.41%. As a group, equities research analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Analyst Ratings Changes

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

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.