First Hawaiian Bank Has $1.88 Million Stock Position in Avnet, Inc. (NASDAQ:AVT)

First Hawaiian Bank cut its stake in Avnet, Inc. (NASDAQ:AVT) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,898 shares of the company’s stock after selling 196 shares during the period. First Hawaiian Bank’s holdings in Avnet were worth $1,878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVT. FMR LLC lifted its stake in shares of Avnet by 24.7% in the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after purchasing an additional 114,217 shares during the period. Envestnet Asset Management Inc. lifted its stake in Avnet by 8.3% in the second quarter. Envestnet Asset Management Inc. now owns 159,985 shares of the company’s stock valued at $8,238,000 after buying an additional 12,238 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Avnet by 46.8% during the 2nd quarter. Federated Hermes Inc. now owns 40,231 shares of the company’s stock worth $2,071,000 after buying an additional 12,832 shares in the last quarter. Kendall Capital Management grew its position in shares of Avnet by 21.2% during the 2nd quarter. Kendall Capital Management now owns 118,843 shares of the company’s stock worth $6,119,000 after buying an additional 20,810 shares during the period. Finally, Weiss Asset Management LP increased its stake in shares of Avnet by 35.7% in the 3rd quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock valued at $13,829,000 after acquiring an additional 66,973 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Down 1.5 %

Avnet stock opened at $51.77 on Thursday. 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 company has a market capitalization of $4.50 billion, a PE ratio of 13.55, a PEG ratio of 1.01 and a beta of 1.14. The firm’s fifty day moving average is $53.85 and its 200 day moving average is $53.32. Avnet, Inc. has a 12-month low of $43.62 and a 12-month high of $59.24.

Avnet (NASDAQ:AVT) last released its quarterly earnings data 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 net margin of 1.51% and a return on equity of 8.46%. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The business’s revenue was down 11.5% on a year-over-year basis. As a group, sell-side analysts predict that Avnet, Inc. will post 4.09 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Wednesday, December 4th. Avnet’s payout ratio is 34.55%.

Avnet Company 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.