Avnet, Inc. (NASDAQ:AVT) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC grew its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 9.0% during the third quarter, Holdings Channel reports. The firm owned 13,547 shares of the company’s stock after purchasing an additional 1,118 shares during the period. Tidal Investments LLC’s holdings in Avnet were worth $736,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp raised its stake in Avnet by 35.2% during the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock worth $42,000 after acquiring an additional 214 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Avnet during the third quarter worth about $51,000. nVerses Capital LLC purchased a new stake in shares of Avnet in the 2nd quarter valued at about $77,000. GAMMA Investing LLC boosted its position 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. Finally, Signaturefd LLC grew its stake in Avnet by 31.0% during the 2nd quarter. Signaturefd LLC now owns 3,242 shares of the company’s stock worth $167,000 after buying an additional 768 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Shares of NASDAQ AVT opened at $53.07 on Friday. The stock has a market cap of $4.61 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.01 and a beta of 1.14. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24. The stock has a 50 day moving average of $54.43 and a two-hundred day moving average of $53.38. The company has a current ratio of 2.25, a quick ratio of 1.07 and a debt-to-equity ratio of 0.48.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. Avnet’s revenue for the quarter was down 11.5% on a year-over-year basis. On average, research analysts forecast that Avnet, Inc. will post 4.09 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Wednesday, December 4th. Avnet’s dividend 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.