World Investment Advisors LLC Invests $378,000 in Avnet, Inc. (NASDAQ:AVT)

World Investment Advisors LLC acquired a new position in shares of Avnet, Inc. (NASDAQ:AVT) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,968 shares of the company’s stock, valued at approximately $378,000.

Other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in shares of Avnet by 35.2% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock worth $42,000 after acquiring an additional 214 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Avnet in the third quarter valued at approximately $51,000. nVerses Capital LLC bought a new stake in shares of Avnet in the second quarter valued at approximately $77,000. GAMMA Investing LLC boosted its stake in shares of Avnet by 20.2% in the third quarter. GAMMA Investing LLC now owns 1,836 shares of the company’s stock valued at $100,000 after buying an additional 309 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Avnet by 38.7% in the second quarter. Blue Trust Inc. now owns 2,995 shares of the company’s stock valued at $148,000 after buying an additional 836 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Trading Down 1.9 %

Shares of AVT stock opened at $53.10 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 1.07 and a debt-to-equity ratio of 0.48. The stock has a market cap of $4.62 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The stock has a 50 day simple moving average of $54.54 and a 200 day simple moving average of $53.39. Avnet, Inc. has a 1 year low of $43.62 and a 1 year high of $59.24.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.06. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 earnings per share. On average, research analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Avnet’s dividend payout ratio (DPR) is currently 34.55%.

Avnet Company Profile

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.