Assenagon Asset Management S.A. Reduces Stake in Avnet, Inc. (NASDAQ:AVT)

Assenagon Asset Management S.A. cut its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,341 shares of the company’s stock after selling 246 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Avnet were worth $2,268,000 at the end of the most recent reporting period.

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

Avnet Price Performance

Avnet stock opened at $54.41 on Thursday. The stock has a market capitalization of $4.73 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.00 and a beta of 1.14. The company’s fifty day moving average price is $53.40 and its 200 day moving average price is $53.42. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. Avnet, Inc. has a 1 year low of $43.62 and a 1 year high of $59.24.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.06. Avnet had a return on equity of 8.46% and a net margin of 1.51%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The business’s revenue was down 11.5% on a year-over-year basis. As a group, equities research analysts anticipate that Avnet, Inc. will post 4.1 earnings per share for the current fiscal year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Wednesday, December 4th. Avnet’s dividend payout ratio (DPR) is 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.