Avnet, Inc. (NASDAQ:AVT) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its holdings in Avnet, Inc. (NASDAQ:AVT - Free Report) by 94.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,512 shares of the company's stock after selling 84,482 shares during the quarter. Bridgewater Associates LP's holdings in Avnet were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fifth Third Bancorp increased its position in Avnet by 35.2% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company's stock valued at $42,000 after acquiring an additional 214 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Avnet in the third quarter worth approximately $51,000. nVerses Capital LLC purchased a new position in shares of Avnet in the second quarter worth approximately $77,000. GAMMA Investing LLC increased its holdings in Avnet by 68.4% during the second quarter. GAMMA Investing LLC now owns 1,527 shares of the company's stock valued at $79,000 after buying an additional 620 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its position in Avnet by 90.6% in the second quarter. Hexagon Capital Partners LLC now owns 1,712 shares of the company's stock worth $88,000 after acquiring an additional 814 shares during the period. Institutional investors own 95.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AVT shares. Stifel Nicolaus boosted their target price on shares of Avnet from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Truist Financial upped their price objective on Avnet from $48.00 to $52.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price target on Avnet from $40.00 to $45.00 and gave the stock an "underweight" rating in a research report on Friday, August 9th.

Avnet Stock Performance

Shares of NASDAQ AVT traded up $0.04 during midday trading on Wednesday, reaching $55.37. 297,472 shares of the stock were exchanged, compared to its average volume of 599,521. 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 firm has a 50-day simple moving average of $54.45 and a two-hundred day simple moving average of $53.40. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.04 and a beta of 1.14.

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

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.33 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.32 annualized dividend and a yield of 2.38%. Avnet's payout ratio is 34.56%.

Avnet 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.