Alliancebernstein L.P. increased its stake in Avnet, Inc. (NYSE:AVT) by 2.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,873,654 shares of the technology company’s stock after buying an additional 42,577 shares during the period. Alliancebernstein L.P.’s holdings in Avnet were worth $74,234,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Crossmark Global Holdings Inc. purchased a new position in shares of Avnet in the 3rd quarter worth $754,000. Canada Pension Plan Investment Board boosted its stake in shares of Avnet by 304.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 214,010 shares of the technology company’s stock worth $8,411,000 after buying an additional 161,088 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Avnet by 1.4% in the 3rd quarter. New York State Common Retirement Fund now owns 831,670 shares of the technology company’s stock worth $32,685,000 after buying an additional 11,180 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Avnet by 233.3% in the 3rd quarter. Toronto Dominion Bank now owns 5,279 shares of the technology company’s stock worth $207,000 after buying an additional 3,695 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Avnet by 48.1% in the 3rd quarter. Advisor Group Inc. now owns 12,160 shares of the technology company’s stock worth $478,000 after buying an additional 3,952 shares during the last quarter. Institutional investors own 95.25% of the company’s stock.
In related news, insider Philip R. Gallagher sold 14,292 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $42.00, for a total value of $600,264.00. Following the transaction, the insider now directly owns 22,178 shares of the company’s stock, valued at approximately $931,476. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kevin V. Summers sold 1,511 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $40.67, for a total value of $61,452.37. Following the completion of the transaction, the insider now directly owns 5,354 shares in the company, valued at $217,747.18. The disclosure for this sale can be found here. 1.65% of the stock is currently owned by company insiders.
Avnet, Inc. (AVT) opened at $44.02 on Monday. Avnet, Inc. has a twelve month low of $35.67 and a twelve month high of $46.61. The company has a market capitalization of $5,279.98, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.41 and a beta of 0.97. The company has a quick ratio of 1.56, a current ratio of 2.75 and a debt-to-equity ratio of 0.28.
Avnet (NYSE:AVT) last announced its earnings results on Thursday, January 25th. The technology company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Avnet had a return on equity of 7.87% and a net margin of 2.51%. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the firm earned $0.77 EPS. Avnet’s revenue for the quarter was up 5.8% compared to the same quarter last year. analysts anticipate that Avnet, Inc. will post 3.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th will be issued a $0.19 dividend. This is a boost from Avnet’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Monday, March 12th. Avnet’s dividend payout ratio (DPR) is currently 19.94%.
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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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