Advisor Group Holdings Inc. trimmed its stake in Avnet, Inc. (NYSE:AVT) by 11.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,257 shares of the technology company’s stock after selling 532 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Avnet were worth $119,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in AVT. Empirical Finance LLC boosted its holdings in shares of Avnet by 1.7% in the second quarter. Empirical Finance LLC now owns 24,442 shares of the technology company’s stock worth $682,000 after buying an additional 399 shares during the period. Schafer Cullen Capital Management Inc grew its holdings in shares of Avnet by 4.7% during the second quarter. Schafer Cullen Capital Management Inc now owns 13,496 shares of the technology company’s stock valued at $376,000 after buying an additional 611 shares in the last quarter. World Asset Management Inc lifted its stake in Avnet by 7.4% in the 2nd quarter. World Asset Management Inc now owns 14,344 shares of the technology company’s stock worth $400,000 after acquiring an additional 983 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in Avnet by 12.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 9,100 shares of the technology company’s stock worth $254,000 after acquiring an additional 1,037 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Avnet by 20.5% in the 1st quarter. US Bancorp DE now owns 6,256 shares of the technology company’s stock valued at $157,000 after purchasing an additional 1,063 shares during the period. Institutional investors and hedge funds own 96.44% of the company’s stock.
Shares of Avnet stock traded up $0.42 during trading on Friday, reaching $28.07. The company’s stock had a trading volume of 479,458 shares, compared to its average volume of 949,057. The business’s fifty day moving average price is $27.05 and its 200-day moving average price is $27.24. Avnet, Inc. has a one year low of $17.85 and a one year high of $43.00.
Avnet (NYSE:AVT) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.14 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was down 11.1% on a year-over-year basis.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th were issued a $0.21 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $0.84 annualized dividend and a yield of 2.99%.
AVT has been the subject of a number of research analyst reports. Longbow Research upgraded shares of Avnet from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Thursday, September 3rd. TheStreet raised Avnet from a “d+” rating to a “c-” rating in a research report on Thursday, September 17th. Finally, Raymond James dropped their target price on Avnet from $44.00 to $35.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.14.
Avnet Company Profile
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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