Nations Financial Group Inc. IA ADV Has $470,000 Position in Avnet, Inc. (NASDAQ:AVT)

Nations Financial Group Inc. IA ADV grew its holdings in Avnet, Inc. (NASDAQ:AVT) by 6.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,656 shares of the company’s stock after purchasing an additional 487 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Avnet were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in AVT. Vanguard Group Inc. grew its holdings in Avnet by 5.0% in the first quarter. Vanguard Group Inc. now owns 10,950,336 shares of the company’s stock worth $542,918,000 after purchasing an additional 519,478 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Avnet by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,385,547 shares of the company’s stock valued at $328,790,000 after buying an additional 39,558 shares during the period. Greenhaven Associates Inc. increased its position in Avnet by 1.7% in the 2nd quarter. Greenhaven Associates Inc. now owns 3,922,338 shares of the company’s stock valued at $201,961,000 after buying an additional 63,801 shares in the last quarter. American Century Companies Inc. raised its stake in Avnet by 1.6% during the 2nd quarter. American Century Companies Inc. now owns 2,690,326 shares of the company’s stock worth $138,525,000 after buying an additional 42,249 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Avnet by 34.7% in the second quarter. AQR Capital Management LLC now owns 1,844,452 shares of the company’s stock worth $94,713,000 after acquiring an additional 475,165 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of Avnet stock opened at $53.04 on Thursday. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $53.66 and a 200-day moving average price of $53.10. The company has a market cap of $4.61 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. Avnet’s revenue was down 11.5% compared to the same quarter last year. Equities analysts anticipate that Avnet, Inc. will post 4.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AVT has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a report on Friday, August 9th. Truist Financial boosted their price target on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised their price objective on shares of Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a research note on Friday, August 9th.

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.