TD SYNNEX Co. (NYSE:SNX) Holdings Lowered by Activest Wealth Management

Activest Wealth Management lowered its stake in TD SYNNEX Co. (NYSE:SNX) by 13.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,448 shares of the business services provider’s stock after selling 2,000 shares during the quarter. TD SYNNEX makes up 0.4% of Activest Wealth Management’s investment portfolio, making the stock its 29th largest holding. Activest Wealth Management’s holdings in TD SYNNEX were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC increased its holdings in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. V Square Quantitative Management LLC purchased a new position in TD SYNNEX during the third quarter valued at approximately $30,000. UMB Bank n.a. increased its stake in TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in TD SYNNEX in the 3rd quarter worth approximately $37,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of TD SYNNEX during the 3rd quarter valued at $55,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,289 shares of company stock valued at $3,639,500. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

SNX has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research note on Wednesday, January 15th. Barclays boosted their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $142.78 on Monday. TD SYNNEX Co. has a 1-year low of $98.70 and a 1-year high of $144.27. The firm has a fifty day simple moving average of $128.51 and a 200-day simple moving average of $121.51. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.23%. TD SYNNEX’s payout ratio is presently 22.11%.

TD SYNNEX Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.