Avnet, Inc. (NASDAQ:AVT) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in Avnet, Inc. (NASDAQ:AVTFree Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 264,325 shares of the company’s stock after selling 11,105 shares during the quarter. Raymond James & Associates’ holdings in Avnet were worth $13,322,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. CWM LLC raised its position in shares of Avnet by 330.2% during the 3rd quarter. CWM LLC now owns 641 shares of the company’s stock worth $31,000 after purchasing an additional 492 shares during the last quarter. Amundi purchased a new position in shares of Avnet in the fourth quarter valued at approximately $37,000. Money Concepts Capital Corp acquired a new stake in shares of Avnet in the fourth quarter worth approximately $37,000. Quantbot Technologies LP purchased a new stake in shares of Avnet during the first quarter worth approximately $38,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Avnet in the 4th quarter valued at $40,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group dropped their target price on shares of Avnet from $48.00 to $42.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.50.

View Our Latest Analysis on AVT

Avnet Price Performance

AVT stock opened at $49.24 on Thursday. Avnet, Inc. has a 1 year low of $39.64 and a 1 year high of $51.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 1.05. The firm has a market capitalization of $4.45 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 0.65 and a beta of 1.24. The business has a 50 day simple moving average of $46.75 and a 200-day simple moving average of $47.35.

Avnet (NASDAQ:AVTGet Free Report) last issued its earnings results on Wednesday, January 31st. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.01. Avnet had a return on equity of 13.60% and a net margin of 2.62%. The company had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period in the prior year, the business earned $2.00 EPS. Equities research analysts anticipate that Avnet, Inc. will post 5.25 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.31 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 annualized dividend and a yield of 2.52%. Avnet’s payout ratio is 17.13%.

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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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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