State Street Corp cut its stake in Avnet, Inc. (NASDAQ:AVT - Free Report) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,219,411 shares of the company's stock after selling 30,515 shares during the quarter. State Street Corp owned about 3.70% of Avnet worth $174,846,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp raised its position in Avnet by 35.2% in the second quarter. Fifth Third Bancorp now owns 822 shares of the company's stock valued at $42,000 after purchasing an additional 214 shares during the period. Capital Performance Advisors LLP purchased a new position in Avnet during the third quarter worth about $51,000. nVerses Capital LLC acquired a new stake in shares of Avnet during the second quarter valued at about $77,000. GAMMA Investing LLC raised its stake in shares of Avnet by 20.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,836 shares of the company's stock valued at $100,000 after acquiring an additional 309 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Avnet by 38.7% in the 2nd quarter. Blue Trust Inc. now owns 2,995 shares of the company's stock worth $148,000 after acquiring an additional 836 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.
Avnet Trading Down 0.5 %
NASDAQ AVT traded down $0.26 during trading on Friday, hitting $54.13. The stock had a trading volume of 179,194 shares, compared to its average volume of 598,709. 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 company has a market capitalization of $4.71 billion, a PE ratio of 14.24, a PEG ratio of 1.01 and a beta of 1.14. The firm has a 50 day moving average price of $54.56 and a 200 day moving average price of $53.42. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24.
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. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The company's revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. As a group, equities research analysts forecast that Avnet, Inc. will post 4.09 earnings per share for the current year.
Avnet Dividend Announcement
The firm also recently disclosed 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 is Wednesday, December 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.44%. Avnet's dividend payout ratio is currently 34.56%.
Avnet Profile
(
Free Report)
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.
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