Avnet, Inc. (NASDAQ:AVT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 4.0% in the third quarter, HoldingsChannel reports. The firm owned 107,035 shares of the company’s stock after selling 4,515 shares during the quarter. Retirement Systems of Alabama’s holdings in Avnet were worth $5,813,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Avnet by 35.2% during the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock worth $42,000 after purchasing an additional 214 shares during the last quarter. Hsbc Holdings PLC boosted its position in Avnet by 4.2% during the second quarter. Hsbc Holdings PLC now owns 5,448 shares of the company’s stock worth $280,000 after acquiring an additional 219 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in Avnet by 5.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock worth $246,000 after acquiring an additional 222 shares during the period. Verdence Capital Advisors LLC raised its holdings in Avnet by 3.3% in the 2nd quarter. Verdence Capital Advisors LLC now owns 7,016 shares of the company’s stock valued at $361,000 after acquiring an additional 223 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Avnet by 4.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,128 shares of the company’s stock worth $367,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Price Performance

AVT stock opened at $52.81 on Thursday. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48. Avnet, Inc. has a 52-week low of $43.62 and a 52-week high of $59.24. The stock’s fifty day simple moving average is $54.50 and its 200-day simple moving average is $53.39.

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 last year, the company earned $1.61 EPS. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. Equities research analysts expect that Avnet, Inc. will post 4.09 EPS for the current year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend 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.