Whalen Wealth Management Inc. Acquires Shares of 4,717 Avnet, Inc. (NASDAQ:AVT)

Whalen Wealth Management Inc. bought a new position in Avnet, Inc. (NASDAQ:AVT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,717 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Greenhaven Associates Inc. increased its position in Avnet by 1.0% in the fourth quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company’s stock worth $207,336,000 after purchasing an additional 38,185 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Avnet by 34.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,844,452 shares of the company’s stock worth $94,713,000 after buying an additional 475,165 shares during the last quarter. Earnest Partners LLC raised its position in shares of Avnet by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 1,477,680 shares of the company’s stock valued at $76,086,000 after buying an additional 34,999 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Avnet by 204.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock valued at $37,489,000 after acquiring an additional 463,660 shares during the last quarter. Finally, FMR LLC grew its position in Avnet by 24.7% in the third quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after acquiring an additional 114,217 shares in the last quarter. 95.78% of the stock is owned by institutional investors.

Avnet Trading Down 0.4 %

Shares of AVT stock opened at $54.41 on Thursday. The company has a market cap of $4.73 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.14. Avnet, Inc. has a 1 year low of $43.62 and a 1 year high of $59.24. The stock’s 50 day simple moving average is $53.40 and its two-hundred day simple moving average is $53.42. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07.

Avnet (NASDAQ:AVT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.06. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. Avnet had a return on equity of 8.46% and a net margin of 1.51%. Avnet’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. Research analysts predict that Avnet, Inc. will post 4.1 earnings per share for the current year.

Avnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. Avnet’s dividend payout ratio is presently 34.56%.

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.