JPMorgan Chase & Co. Purchases 28,453 Shares of Avnet, Inc. (NASDAQ:AVT)

JPMorgan Chase & Co. raised its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 13.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,295 shares of the company's stock after buying an additional 28,453 shares during the quarter. JPMorgan Chase & Co. owned about 0.28% of Avnet worth $13,213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Avnet in the 3rd quarter worth approximately $51,000. GAMMA Investing LLC boosted its stake in shares of Avnet by 20.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,836 shares of the company's stock worth $100,000 after acquiring an additional 309 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Avnet by 29.3% in the third quarter. Blue Trust Inc. now owns 3,874 shares of the company's stock valued at $199,000 after purchasing an additional 879 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Avnet by 442.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,697 shares of the company's stock valued at $200,000 after purchasing an additional 3,015 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Avnet in the third quarter valued at $209,000. Institutional investors and hedge funds own 95.78% of the company's stock.

Avnet Stock Down 0.7 %

Shares of NASDAQ:AVT traded down $0.34 during midday trading on Friday, hitting $51.43. 494,646 shares of the stock were exchanged, compared to its average volume of 532,208. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. Avnet, Inc. has a 52-week low of $43.62 and a 52-week high of $59.24. The business's fifty day simple moving average is $53.74 and its two-hundred day simple moving average is $53.32. The company has a market capitalization of $4.47 billion, a PE ratio of 13.46, a P/E/G ratio of 1.01 and a beta of 1.14.

Avnet (NASDAQ:AVT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business's quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. As a group, research analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.32 annualized dividend and a yield of 2.57%. Avnet's dividend payout ratio (DPR) is presently 34.55%.

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.