Avnet, Inc. (NASDAQ:AVT) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Avnet, Inc. (NASDAQ:AVT) by 13.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,295 shares of the company’s stock after purchasing an additional 28,453 shares during the quarter. JPMorgan Chase & Co. owned about 0.28% of Avnet worth $13,213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVT. Capital Performance Advisors LLP purchased a new position in Avnet during the third quarter worth about $51,000. GAMMA Investing LLC lifted its holdings in shares of Avnet by 20.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,836 shares of the company’s stock worth $100,000 after acquiring an additional 309 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Avnet by 29.3% during the 3rd quarter. Blue Trust Inc. now owns 3,874 shares of the company’s stock worth $199,000 after purchasing an additional 879 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Avnet by 442.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,697 shares of the company’s stock valued at $200,000 after purchasing an additional 3,015 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Avnet in the third quarter valued at approximately $209,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Down 0.7 %

NASDAQ:AVT opened at $51.43 on Friday. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. 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’s fifty day moving average is $53.74 and its two-hundred day moving average is $53.31. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. Avnet’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period last year, the business posted $1.61 EPS. Research analysts anticipate that Avnet, Inc. will post 4.09 EPS for the current year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Wednesday, December 4th. Avnet’s payout ratio is currently 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.