Corient Private Wealth LLC Has $2.83 Million Stock Holdings in Avnet, Inc. $AVT

Key Points

• Corient Private Wealth LLC cut its Avnet stake by 28.6% in the fourth quarter, leaving it with 58,843 shares valued at about $2.83 million.
• Avnet’s latest quarter showed strong results, with EPS of $1.48 versus estimates of $1.33 and revenue of $7.12 billion, up 34% year over year.
• Analysts remain generally positive: the stock has a Moderate Buy consensus rating and an average price target of $89, while Avnet also pays a quarterly dividend of $0.35 per share.

Corient Private Wealth LLC lowered its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,843 shares of the company's stock after selling 23,527 shares during the quarter. Corient Private Wealth LLC owned 0.07% of Avnet worth $2,829,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AVT. Summit Securities Group LLC acquired a new position in shares of Avnet during the 4th quarter worth about $28,000. BOKF NA grew its stake in Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company's stock valued at $31,000 after purchasing an additional 536 shares in the last quarter. MAI Capital Management grew its stake in Avnet by 53.7% in the third quarter. MAI Capital Management now owns 673 shares of the company's stock valued at $35,000 after purchasing an additional 235 shares in the last quarter. Allworth Financial LP increased its position in shares of Avnet by 199.1% during the 3rd quarter. Allworth Financial LP now owns 700 shares of the company's stock worth $37,000 after purchasing an additional 466 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Avnet by 53.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company's stock worth $35,000 after purchasing an additional 258 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $95.00 price target on shares of Avnet in a research note on Thursday, April 30th. Zacks Research upgraded shares of Avnet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Avnet in a report on Tuesday, June 16th. Bank of America upgraded shares of Avnet from an "underperform" rating to a "neutral" rating and raised their target price for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Finally, Truist Financial lifted their price target on Avnet to $95.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.00.

Avnet Price Performance

Shares of NASDAQ AVT opened at $86.33 on Monday. The stock has a market capitalization of $7.08 billion, a PE ratio of 33.59, a P/E/G ratio of 0.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $95.26. The business has a fifty day moving average price of $84.90 and a two-hundred day moving average price of $67.62.

Avnet (NASDAQ:AVT - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.15. The firm had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.45 billion. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The company's revenue was up 34.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, equities analysts predict that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Wednesday, June 3rd. Avnet's payout ratio is 54.47%.

Insider Activity at Avnet

In related news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total value of $1,983,446.40. Following the transaction, the chief executive officer directly owned 145,003 shares of the company's stock, valued at $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company's stock.

Avnet Profile

Avnet, Inc NASDAQ: AVT is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet's offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.

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