Tweedy Browne Co. LLC decreased its position in Avnet (NYSE:AVT) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 583,291 shares of the technology company’s stock after selling 5,855 shares during the quarter. Tweedy Browne Co. LLC owned about 0.49% of Avnet worth $23,110,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC boosted its position in Avnet by 10.8% during the fourth quarter. Pzena Investment Management LLC now owns 9,031,623 shares of the technology company’s stock worth $357,833,000 after purchasing an additional 877,612 shares during the period. Alliancebernstein L.P. boosted its position in shares of Avnet by 2.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,873,654 shares of the technology company’s stock valued at $74,234,000 after acquiring an additional 42,577 shares during the period. LSV Asset Management boosted its position in shares of Avnet by 5.0% in the fourth quarter. LSV Asset Management now owns 1,470,300 shares of the technology company’s stock valued at $58,253,000 after acquiring an additional 69,700 shares during the period. Prudential Financial Inc. raised its stake in shares of Avnet by 19.2% in the third quarter. Prudential Financial Inc. now owns 1,377,344 shares of the technology company’s stock valued at $54,130,000 after purchasing an additional 222,109 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Avnet by 28.6% in the fourth quarter. Deutsche Bank AG now owns 1,202,803 shares of the technology company’s stock valued at $47,653,000 after purchasing an additional 267,755 shares in the last quarter. 96.44% of the stock is owned by institutional investors and hedge funds.
In other news, insider Kevin V. Summers sold 1,511 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $40.67, for a total transaction of $61,452.37. Following the completion of the transaction, the insider now owns 5,354 shares of the company’s stock, valued at approximately $217,747.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Philip R. Gallagher sold 14,292 shares of the business’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 disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.
AVT has been the subject of a number of recent research reports. Goldman Sachs upgraded Avnet from a “sell” rating to a “neutral” rating and set a $38.00 target price for the company in a research note on Friday, January 5th. Longbow Research upgraded Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Pivotal Research assumed coverage on Avnet in a research note on Tuesday, February 13th. They set a “hold” rating and a $44.00 price objective for the company. Finally, Zacks Investment Research lowered Avnet from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Avnet presently has an average rating of “Hold” and a consensus target price of $40.13.
Avnet stock traded down $1.32 during midday trading on Friday, reaching $40.34. The stock had a trading volume of 531,632 shares, compared to its average volume of 631,012. Avnet has a 1-year low of $35.67 and a 1-year high of $45.09. The firm has a market cap of $4,996.92, a PE ratio of 12.45, a P/E/G ratio of 1.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 2.75.
Avnet (NYSE:AVT) last posted its quarterly earnings results on Thursday, January 25th. The technology company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. equities research analysts predict that Avnet will post 3.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 27th. Stockholders of record on Tuesday, March 13th were paid a dividend of $0.19 per share. This is an increase from Avnet’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, March 12th. Avnet’s payout ratio is currently 23.46%.
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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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