Public Employees Retirement System of Ohio held its position in Avnet, Inc. (NYSE:AVT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,537 shares of the technology company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in Avnet were worth $1,809,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in AVT. CHICAGO TRUST Co NA bought a new position in shares of Avnet during the first quarter worth approximately $215,000. Smith Salley & Associates acquired a new stake in shares of Avnet during the first quarter worth about $216,000. Anchor Capital Advisors LLC raised its stake in shares of Avnet by 8.4% in the first quarter. Anchor Capital Advisors LLC now owns 4,785 shares of the technology company’s stock worth $219,000 after buying an additional 370 shares in the last quarter. Bellwether Investment Group LLC raised its stake in shares of Avnet by 16.1% in the first quarter. Bellwether Investment Group LLC now owns 5,310 shares of the technology company’s stock worth $243,000 after buying an additional 735 shares in the last quarter. Finally, HPM Partners LLC acquired a new stake in shares of Avnet during the first quarter worth about $246,000. Institutional investors and hedge funds own 97.67% of the company’s stock.
Shares of Avnet, Inc. (NYSE AVT) traded down 2.34% on Friday, reaching $35.95. The company had a trading volume of 1,233,608 shares. The firm’s 50 day moving average is $38.53 and its 200 day moving average is $41.29. Avnet, Inc. has a 12 month low of $35.95 and a 12 month high of $51.50. The firm has a market capitalization of $4.42 billion, a PE ratio of 8.80 and a beta of 1.04.
Avnet (NYSE:AVT) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.07. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Avnet had a net margin of 3.00% and a return on equity of 8.87%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm posted $0.86 earnings per share. On average, equities research analysts expect that Avnet, Inc. will post $3.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, September 1st. Avnet’s dividend payout ratio (DPR) is presently 17.69%.
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AVT has been the subject of a number of research analyst reports. Deutsche Bank AG reissued a “hold” rating and set a $40.00 price target (down from $47.00) on shares of Avnet in a research note on Saturday, April 29th. Longbow Research lowered Avnet from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. BidaskClub raised Avnet from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Bank of America Corporation lowered Avnet from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $44.00 to $40.00 in a research report on Friday, July 14th. Finally, SunTrust Banks, Inc. lowered Avnet from a “buy” rating to a “hold” rating and decreased their target price for the company from $53.00 to $39.00 in a research report on Friday, April 28th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.11.
In other Avnet news, Director James A. Lawrence bought 408,451 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was acquired at an average cost of $36.99 per share, with a total value of $15,108,602.49. Following the completion of the purchase, the director now directly owns 416,549 shares in the company, valued at $15,408,147.51. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J Veronica Biggins sold 10,600 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $37.10, for a total transaction of $393,260.00. Following the sale, the director now directly owns 12,191 shares of the company’s stock, valued at $452,286.10. The disclosure for this sale can be found here. Company insiders own 1.47% of the company’s stock.
Avnet Company Profile
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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