Geode Capital Management LLC Has $85.40 Million Stake in Avnet, Inc. (NASDAQ:AVT)

Geode Capital Management LLC lessened its stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,566,832 shares of the company's stock after selling 45,632 shares during the period. Geode Capital Management LLC owned about 1.80% of Avnet worth $85,403,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVT. Fifth Third Bancorp raised its holdings in shares of 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 period. Capital Performance Advisors LLP acquired a new stake in Avnet during the 3rd quarter valued at $51,000. nVerses Capital LLC acquired a new stake in Avnet during the 2nd quarter valued at $77,000. GAMMA Investing LLC lifted its holdings in shares of Avnet by 20.2% in the third quarter. GAMMA Investing LLC now owns 1,836 shares of the company's stock valued at $100,000 after purchasing an additional 309 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Avnet by 31.0% in the second quarter. Signaturefd LLC now owns 3,242 shares of the company's stock worth $167,000 after buying an additional 768 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Stock Up 0.3 %

Shares of AVT stock traded up $0.16 on Friday, reaching $53.07. 7,925,219 shares of the company's stock traded hands, compared to its average volume of 635,459. The company has a market capitalization of $4.61 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. Avnet, Inc. has a 12-month low of $43.62 and a 12-month high of $59.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. The business's 50 day moving average price is $54.47 and its two-hundred day moving average price is $53.39.

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

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a $0.33 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $1.32 annualized dividend and a yield of 2.49%. Avnet's dividend payout ratio is presently 34.55%.

About Avnet

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.