Kovitz Investment Group Partners LLC Purchases 19,646 Shares of Avnet, Inc. (NASDAQ:AVT)

Kovitz Investment Group Partners LLC boosted its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 430.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,208 shares of the company's stock after buying an additional 19,646 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Avnet were worth $1,289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AVT. Dimensional Fund Advisors LP increased its stake in shares of Avnet by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,385,547 shares of the company's stock worth $328,790,000 after purchasing an additional 39,558 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Avnet by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 2,690,326 shares of the company's stock worth $138,525,000 after acquiring an additional 42,249 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Avnet by 34.7% in the 2nd 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 during the last quarter. Earnest Partners LLC lifted its holdings in shares of Avnet by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 1,477,680 shares of the company's stock worth $76,086,000 after acquiring an additional 34,999 shares during the last quarter. Finally, Lind Value II ApS acquired a new stake in Avnet during the 2nd quarter worth approximately $62,394,000. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Stock Up 0.9 %

Shares of NASDAQ:AVT traded up $0.49 during trading hours on Wednesday, reaching $54.20. The stock had a trading volume of 666,932 shares, compared to its average volume of 600,937. Avnet, Inc. has a 1 year low of $43.62 and a 1 year high of $59.24. The firm's 50 day moving average is $54.52 and its 200-day moving average is $53.41. 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 stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.01 and a beta of 1.14.

Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings data 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 net margin of 1.51% and a return on equity of 8.46%. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the firm posted $1.61 EPS. Avnet's revenue for the quarter was down 11.5% on a year-over-year basis. Research analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.44%. Avnet's payout ratio is currently 34.55%.

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.