FinTrust Capital Advisors LLC cut its stake in Avnet, Inc. (NYSE:AVT) by 23.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,940 shares of the technology company’s stock after selling 580 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Avnet were worth $50,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV bought a new position in Avnet in the 2nd quarter valued at about $38,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Avnet by 187.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,674 shares of the technology company’s stock valued at $102,000 after purchasing an additional 2,398 shares in the last quarter. Berman Capital Advisors LLC boosted its stake in shares of Avnet by 5,219.5% in the 3rd quarter. Berman Capital Advisors LLC now owns 4,096 shares of the technology company’s stock valued at $105,000 after purchasing an additional 4,019 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of Avnet in the 1st quarter valued at approximately $121,000. Finally, Blue Rock Advisors LLC acquired a new stake in shares of Avnet in the 2nd quarter valued at approximately $170,000. 96.44% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on AVT. Raymond James reduced their price target on shares of Avnet from $44.00 to $35.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 7th. TheStreet upgraded shares of Avnet from a “d+” rating to a “c-” rating in a research note on Thursday, September 17th. Wells Fargo & Company reduced their price target on shares of Avnet from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 29th. Finally, Longbow Research upgraded shares of Avnet from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Avnet currently has an average rating of “Hold” and a consensus price target of $31.33.
NYSE:AVT opened at $28.74 on Friday. The firm’s 50 day simple moving average is $27.37 and its 200 day simple moving average is $27.38. Avnet, Inc. has a one year low of $17.85 and a one year high of $43.00.
Avnet (NYSE:AVT) last posted its earnings results on Wednesday, October 28th. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.12 by $0.24.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.92%.
Avnet, Inc, a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers.
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