Amalgamated Bank Has $3.18 Million Stock Position in Avnet, Inc. (NASDAQ:AVT)

Amalgamated Bank boosted its position in shares of Avnet, Inc. (NASDAQ:AVTFree Report) by 10.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,021 shares of the company’s stock after purchasing an additional 6,414 shares during the period. Amalgamated Bank owned about 0.07% of Avnet worth $3,182,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AVT. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Avnet during the third quarter worth $218,000. Oppenheimer Asset Management Inc. increased its position in Avnet by 3.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 50,166 shares of the company’s stock valued at $2,418,000 after acquiring an additional 1,524 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Avnet in the third quarter worth about $521,000. Fox Run Management L.L.C. acquired a new position in shares of Avnet during the third quarter worth approximately $659,000. Finally, Jump Financial LLC bought a new stake in shares of Avnet during the third quarter valued at approximately $1,917,000. 95.34% of the stock is owned by institutional investors.

Avnet Stock Up 0.4 %

Shares of NASDAQ AVT opened at $44.92 on Friday. Avnet, Inc. has a 1 year low of $39.64 and a 1 year high of $51.65. The firm’s 50-day moving average is $47.76 and its 200-day moving average is $47.63. The company has a current ratio of 2.34, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $4.06 billion, a PE ratio of 6.20, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24.

Avnet (NASDAQ:AVTGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.15 billion. During the same period last year, the firm earned $2.00 earnings per share. Equities analysts expect that Avnet, Inc. will post 5.34 EPS for the current year.

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Tuesday, December 5th. Avnet’s payout ratio is 17.13%.

Insiders Place Their Bets

In other news, Director James A. Lawrence sold 8,190 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $47.30, for a total value of $387,387.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on AVT

Avnet Profile

(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.

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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