William Blair Investment Management LLC Acquires 17,685 Shares of Avnet, Inc. (NASDAQ:AVT)

William Blair Investment Management LLC lifted its position in shares of Avnet, Inc. (NASDAQ:AVT) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 733,566 shares of the company’s stock after acquiring an additional 17,685 shares during the period. William Blair Investment Management LLC owned approximately 0.85% of Avnet worth $38,380,000 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. Synergy Investment Management LLC bought a new stake in shares of Avnet during the 4th quarter worth approximately $38,000. Principal Securities Inc. lifted its stake in Avnet by 18.2% in the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after purchasing an additional 211 shares during the last quarter. GAMMA Investing LLC lifted its stake in Avnet by 18.6% in the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after purchasing an additional 341 shares during the last quarter. KBC Group NV lifted its stake in Avnet by 55.7% in the 4th quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Longboard Asset Management LP bought a new position in Avnet in the 4th quarter valued at approximately $207,000. Institutional investors own 95.78% of the company’s stock.

Avnet Trading Up 0.9 %

Shares of NASDAQ AVT opened at $48.23 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 52-week low of $45.50 and a 52-week high of $59.24. The firm has a 50 day moving average price of $51.09 and a two-hundred day moving average price of $52.74. The stock has a market cap of $4.17 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. As a group, equities analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

Analyst Ratings Changes

AVT has been the subject of several research reports. Truist Financial dropped their price objective on shares of Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research note 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 company from $58.00 to $48.00 in a research note 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.