Avnet, Inc. (AVT) Shares Bought by Eaton Vance Management
Eaton Vance Management increased its position in Avnet, Inc. (NYSE:AVT) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 810,804 shares of the technology company’s stock after acquiring an additional 106,396 shares during the period. Eaton Vance Management owned about 0.65% of Avnet worth $31,524,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of AVT. Weaver C. Barksdale & Associates Inc. grew its holdings in shares of Avnet by 11.2% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 2,608 shares of the technology company’s stock worth $101,000 after acquiring an additional 262 shares during the period. Pacad Investment Ltd. bought a new stake in shares of Avnet in the second quarter worth $113,000. Daiwa Securities Group Inc. grew its holdings in shares of Avnet by 21.9% in the second quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the technology company’s stock worth $152,000 after acquiring an additional 700 shares during the period. BB&T Securities LLC bought a new stake in shares of Avnet in the second quarter worth $218,000. Finally, Anchor Capital Advisors LLC grew its holdings in shares of Avnet by 8.4% in the first quarter. Anchor Capital Advisors LLC now owns 4,785 shares of the technology company’s stock worth $219,000 after acquiring an additional 370 shares during the period. 97.14% of the stock is owned by institutional investors.
Several analysts recently commented on AVT shares. ValuEngine lowered Avnet from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised Avnet from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Zacks Investment Research raised Avnet from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Bank of America Corporation lowered Avnet from a “neutral” rating to an “underperform” rating and cut their price target for the company from $44.00 to $40.00 in a report on Friday, July 14th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $39.00 price target (down previously from $40.00) on shares of Avnet in a report on Thursday, August 10th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company. Avnet currently has an average rating of “Hold” and an average price target of $42.11.
In other Avnet news, Director J Veronica Biggins sold 10,600 shares of Avnet stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $37.10, for a total transaction of $393,260.00. Following the completion of the transaction, the director now owns 12,191 shares in the company, valued at approximately $452,286.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.47% of the company’s stock.
Shares of Avnet, Inc. (AVT) opened at 36.85 on Friday. Avnet, Inc. has a 12-month low of $35.67 and a 12-month high of $51.50. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 9.02 and a beta of 1.03. The firm’s 50-day moving average price is $37.69 and its 200 day moving average price is $40.35.
Avnet (NYSE:AVT) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.07. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.48 billion. Avnet had a return on equity of 8.87% and a net margin of 3.00%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. On average, analysts predict that Avnet, Inc. will post $3.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.95%. Avnet’s payout ratio is currently 17.69%.
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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