Invesco Ltd. Has $33.46 Million Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Invesco Ltd. lowered its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 33.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 639,527 shares of the company’s stock after selling 326,896 shares during the period. Invesco Ltd. owned approximately 0.74% of Avnet worth $33,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. raised its holdings in shares of Avnet by 32.6% in the 4th quarter. Federated Hermes Inc. now owns 62,119 shares of the company’s stock worth $3,250,000 after acquiring an additional 15,260 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Avnet by 30.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company’s stock worth $76,000 after purchasing an additional 340 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Avnet by 61.3% in the fourth quarter. Russell Investments Group Ltd. now owns 399,593 shares of the company’s stock valued at $20,906,000 after purchasing an additional 151,821 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Avnet by 6.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 167,169 shares of the company’s stock valued at $8,746,000 after buying an additional 10,051 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new stake in Avnet during the fourth quarter worth $837,000. Institutional investors own 95.78% of the company’s stock.

Avnet Trading Up 1.5 %

Shares of Avnet stock opened at $47.20 on Friday. The firm has a market cap of $4.08 billion, a PE ratio of 13.37, 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 company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The stock has a fifty day moving average price of $48.22 and a 200-day moving average price of $51.73.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data 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%. Equities research analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVT. Truist Financial cut 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. Bank of America cut shares of Avnet from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $58.00 to $48.00 in a report on Thursday, January 30th.

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.