Avnet (AVT) Stake Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its position in shares of Avnet (NYSE:AVT) by 17.2% during the 4th quarter, Holdings Channel reports. The firm owned 23,086 shares of the technology company’s stock after selling 4,812 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Avnet were worth $914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in AVT. Schwab Charles Investment Management Inc. increased its stake in shares of Avnet by 8.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 604,751 shares of the technology company’s stock worth $23,767,000 after purchasing an additional 45,847 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Avnet by 1.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 203,988 shares of the technology company’s stock worth $8,020,000 after purchasing an additional 2,000 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Avnet during the 3rd quarter worth about $218,000. Oppenheimer Asset Management Inc. increased its stake in shares of Avnet by 2,303.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,577 shares of the technology company’s stock worth $730,000 after purchasing an additional 17,804 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Avnet by 262.0% during the 3rd quarter. Janus Henderson Group PLC now owns 764,285 shares of the technology company’s stock worth $30,037,000 after purchasing an additional 553,130 shares during the last quarter. Institutional investors own 96.45% of the company’s stock.

Shares of AVT opened at $41.72 on Friday. Avnet has a 52 week low of $35.67 and a 52 week high of $45.09. The stock has a market capitalization of $5,030.50, a P/E ratio of 12.88, a P/E/G ratio of 1.34 and a beta of 0.96. The company has a current ratio of 2.75, a quick ratio of 1.56 and a debt-to-equity ratio of 0.28.



Avnet (NYSE:AVT) last posted its quarterly earnings data on Thursday, January 25th. The technology company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.46 billion. Avnet had a net margin of 2.51% and a return on equity of 7.87%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. equities analysts expect that Avnet will post 3.48 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 13th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, March 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.82%. This is an increase from Avnet’s previous quarterly dividend of $0.18. Avnet’s payout ratio is currently 23.46%.

A number of research analysts recently commented on AVT shares. Zacks Investment Research lowered shares of Avnet from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Goldman Sachs upgraded shares of Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price target on the stock in a research note on Friday, January 5th. Longbow Research upgraded shares of Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Finally, Pivotal Research started coverage on shares of Avnet in a research note on Tuesday, February 13th. They issued a “hold” rating and a $44.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.38.

In other Avnet news, insider Kevin V. Summers sold 1,511 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $40.67, for a total value of $61,452.37. Following the completion of the sale, the insider now owns 5,354 shares of the company’s stock, valued at approximately $217,747.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Philip R. Gallagher sold 14,292 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $42.00, for a total transaction of $600,264.00. Following the completion of the sale, the insider now directly owns 22,178 shares of the company’s stock, valued at approximately $931,476. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.

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About Avnet

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

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Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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