Mariner LLC Sells 911 Shares of Avnet, Inc. (NASDAQ:AVT)

Mariner LLC trimmed its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,369 shares of the company’s stock after selling 911 shares during the quarter. Mariner LLC’s holdings in Avnet were worth $804,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Investment Management LLC bought a new position in Avnet in the 4th quarter worth about $38,000. Bessemer Group Inc. increased its stake in Avnet by 621.8% in the 4th quarter. Bessemer Group Inc. now owns 960 shares of the company’s stock worth $50,000 after acquiring an additional 827 shares during the last quarter. Principal Securities Inc. increased its stake in Avnet by 18.2% in the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after acquiring an additional 211 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Avnet by 30.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company’s stock worth $76,000 after purchasing an additional 340 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Avnet by 1,768.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company’s stock worth $113,000 after purchasing an additional 2,051 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.

Avnet Trading Down 0.5 %

Shares of AVT stock opened at $51.70 on Tuesday. The stock has a market capitalization of $4.47 billion, a PE ratio of 14.65, a P/E/G ratio of 1.13 and a beta of 1.04. Avnet, Inc. has a 1-year low of $39.22 and a 1-year high of $59.24. The business has a 50-day moving average of $48.03 and a 200 day moving average of $51.49. 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 data 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, sell-side analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is currently 37.39%.

Wall Street Analysts Forecast Growth

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