2 weeks Ago By ABMN Staff
Envestnet Asset Management Inc. raised its stake in Avnet, Inc. ( NASDAQ:AVT – Free Report ) by 8.
3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 159,985 shares of the company’s stock after buying an additional 12,238 shares during the period.
Envestnet Asset Management Inc.’s holdings in Avnet were worth $8,238,000 at the end of the most recent reporting period. A number of other hedge funds and other institutional investors have also bought and sold shares of the company.
Rise Advisors LLC acquired a new position in Avnet in the 1st quarter valued at approximately $29,000. Fifth Third Bancorp increased its stake in Avnet by 35.2% during the 2nd quarter.
Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $42,000 after purchasing an additional 214 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Avnet by 1,113.5% during the 1st quarter.
Hexagon Capital Partners LLC now owns 898 shares of the company’s stock valued at $45,000 after purchasing an additional 824 shares during the last quarter. nVerses Capital LLC bought a new stake in Avnet during the second quarter worth $77,000. Finally, Versant Capital Management Inc lifted its position in shares of Avnet by 729.
7% during the second quarter. Versant Capital Management Inc now owns 1,535 shares of the company’s stock valued at $79,000 after purchasing an additional 1,350 shares in the last quarter. Institutional investors own 95.
78% of the company’s stock. Avnet Price Performance Shares of NASDAQ AVT opened at $54.35 on Friday.
Avnet, Inc. has a 1 year low of $42.67 and a 1 year high of $55.
80. The company’s 50-day moving average is $52.78 and its 200 day moving average is $51.
56. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.
32 and a quick ratio of 1.10. The stock has a market capitalization of $4.
79 billion, a P/E ratio of 8.79 and a beta of 1.15.
Avnet Increases Dividend The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were paid a dividend of $0.33 per share.
This represents a $1.32 annualized dividend and a yield of 2.43%.
This is an increase from Avnet’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, September 11th.
Avnet’s dividend payout ratio (DPR) is currently 21.36%. Analyst Upgrades and Downgrades A number of research firms have recently commented on AVT.
Truist Financial lifted their target price on Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, August 9th.
Wells Fargo & Company boosted their price target on shares of Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a research report on Friday, August 9th.
Finally, Stifel Nicolaus increased their price target on shares of Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, August 9th.
Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, Avnet currently has an average rating of “Hold” and a consensus target price of $48.
50. Check Out Our Latest Research Report on AVT Avnet Profile ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding AVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avnet, Inc.
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