Webster Bank N. A. Buys New Position in Avnet, Inc. (NASDAQ:AVT)

Webster Bank N. A. purchased a new position in shares of Avnet, Inc. (NASDAQ:AVTFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,000 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds also recently made changes to their positions in the company. CWM LLC increased its holdings in Avnet by 330.2% during the 3rd quarter. CWM LLC now owns 641 shares of the company’s stock worth $31,000 after purchasing an additional 492 shares during the last quarter. Amundi bought a new position in Avnet during the 4th quarter valued at $37,000. Money Concepts Capital Corp bought a new position in Avnet during the 4th quarter valued at $37,000. Quantbot Technologies LP acquired a new position in Avnet during the 1st quarter worth $38,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Avnet in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of AVT opened at $48.84 on Wednesday. The firm has a fifty day moving average of $46.73 and a 200-day moving average of $47.34. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 6.75, a price-to-earnings-growth ratio of 0.65 and a beta of 1.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 2.34. Avnet, Inc. has a 1 year low of $39.64 and a 1 year high of $51.65.

Avnet (NASDAQ:AVTGet Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.01. Avnet had a net margin of 2.62% and a return on equity of 13.60%. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the firm posted $2.00 EPS. As a group, equities analysts anticipate that Avnet, Inc. will post 5.25 earnings per share for the current year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Tuesday, March 5th. Avnet’s dividend payout ratio (DPR) is 17.13%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their price objective on shares of Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.50.

Check Out Our Latest Research Report on AVT

About Avnet

(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.

See Also

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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