Wipfli Financial Advisors LLC Acquires Shares of 2,093 Avnet, Inc. (NASDAQ:AVT)

Wipfli Financial Advisors LLC acquired a new stake in Avnet, Inc. (NASDAQ:AVTGet Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,093 shares of the company’s stock, valued at approximately $76,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenleaf Trust increased its stake in shares of Avnet by 3.9% during the second quarter. Greenleaf Trust now owns 6,335 shares of the company’s stock worth $272,000 after purchasing an additional 236 shares in the last quarter. Synovus Financial Corp boosted its position in Avnet by 2.8% during the second quarter. Synovus Financial Corp now owns 8,961 shares of the company’s stock worth $381,000 after acquiring an additional 241 shares during the last quarter. Jane Street Group LLC boosted its position in Avnet by 3.9% during the first quarter. Jane Street Group LLC now owns 8,498 shares of the company’s stock worth $345,000 after acquiring an additional 317 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Avnet by 49.5% during the second quarter. Quadrant Capital Group LLC now owns 1,060 shares of the company’s stock worth $45,000 after acquiring an additional 351 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in Avnet by 2.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 20,738 shares of the company’s stock worth $889,000 after acquiring an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 97.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AVT shares. Stifel Nicolaus lowered their price target on shares of Avnet from $48.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, October 10th. Wells Fargo & Company lowered shares of Avnet from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $45.00 to $35.00 in a research report on Friday, September 16th. Finally, StockNews.com lowered shares of Avnet from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.86.

Avnet Stock Performance

Shares of AVT stock opened at $43.87 on Friday. The firm’s 50 day moving average price is $43.16 and its 200-day moving average price is $42.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 2.04. Avnet, Inc. has a one year low of $35.45 and a one year high of $50.19. The firm has a market cap of $4.01 billion, a P/E ratio of 5.64, a P/E/G ratio of 0.25 and a beta of 1.33.

Avnet (NASDAQ:AVTGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.91 by $0.09. Avnet had a net margin of 3.00% and a return on equity of 18.23%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same period in the prior year, the business posted $1.22 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities research analysts predict that Avnet, Inc. will post 6.97 EPS for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.64%. The ex-dividend date was Tuesday, December 6th. Avnet’s payout ratio is currently 14.91%.

Avnet Company Profile

(Get Rating)

Avnet, Inc, a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers.

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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