Avnet, Inc. (NASDAQ:AVT) Shares Sold by Lind Value II ApS

Lind Value II ApS lessened its position in Avnet, Inc. (NASDAQ:AVT) by 20.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 868,762 shares of the company’s stock after selling 224,654 shares during the quarter. Avnet makes up about 20.2% of Lind Value II ApS’s portfolio, making the stock its 3rd biggest position. Lind Value II ApS owned about 1.00% of Avnet worth $45,454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its position in shares of Avnet by 227.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock valued at $11,197,000 after buying an additional 148,588 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Avnet by 18.6% in the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after purchasing an additional 341 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Avnet by 13.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock valued at $13,213,000 after purchasing an additional 28,453 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Avnet by 17.1% during the 3rd quarter. Franklin Resources Inc. now owns 52,290 shares of the company’s stock worth $2,895,000 after buying an additional 7,619 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Avnet by 9.8% during the 3rd quarter. Synovus Financial Corp now owns 9,460 shares of the company’s stock worth $514,000 after buying an additional 843 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Performance

Avnet stock opened at $51.97 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48. The stock has a market cap of $4.52 billion, a PE ratio of 13.60, a P/E/G ratio of 1.01 and a beta of 1.14. Avnet, Inc. has a 12-month low of $43.62 and a 12-month high of $59.24. The business’s 50-day moving average price is $53.69 and its two-hundred day moving average price is $53.32.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the company earned $1.61 EPS. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, analysts expect that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Wednesday, December 4th. Avnet’s dividend payout ratio (DPR) is 34.55%.

Avnet 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.