HighTower Advisors LLC Has $528,000 Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

HighTower Advisors LLC lifted its position in Avnet, Inc. (NASDAQ:AVT) by 14.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,085 shares of the company’s stock after buying an additional 1,269 shares during the quarter. HighTower Advisors LLC’s holdings in Avnet were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. FMR LLC lifted its position in shares of Avnet by 24.7% during the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after purchasing an additional 114,217 shares during the last quarter. CreativeOne Wealth LLC increased its position in Avnet by 21.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 7,979 shares of the company’s stock worth $433,000 after buying an additional 1,421 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Avnet by 10.0% during the third quarter. Captrust Financial Advisors now owns 12,717 shares of the company’s stock worth $691,000 after buying an additional 1,158 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of Avnet by 206.2% in the third quarter. Verition Fund Management LLC now owns 18,798 shares of the company’s stock valued at $1,021,000 after acquiring an additional 12,659 shares during the period. Finally, ClearAlpha Technologies LP grew its stake in shares of Avnet by 81.7% in the third quarter. ClearAlpha Technologies LP now owns 20,012 shares of the company’s stock worth $1,087,000 after acquiring an additional 8,998 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $47.19 on Monday. The firm has a market capitalization of $4.08 billion, a PE ratio of 13.37, a PEG ratio of 1.13 and a beta of 1.09. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a 1-year low of $46.24 and a 1-year high of $59.24. The business’s 50 day moving average is $50.38 and its 200-day moving average is $52.52.

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 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%. Sell-side analysts predict that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of 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 downgraded shares of Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $58.00 to $48.00 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.