First Trust Advisors LP Lowers Stock Position in Avnet, Inc. $AVT

First Trust Advisors LP decreased its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 838,487 shares of the company's stock after selling 90,010 shares during the period. First Trust Advisors LP owned approximately 1.02% of Avnet worth $51,667,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AVT. Summit Securities Group LLC purchased a new stake in shares of Avnet in the fourth quarter valued at approximately $28,000. BOKF NA grew its holdings in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company's stock worth $31,000 after acquiring an additional 536 shares during the period. Allworth Financial LP grew its holdings in Avnet by 199.1% during the third quarter. Allworth Financial LP now owns 700 shares of the company's stock worth $37,000 after acquiring an additional 466 shares during the period. Hantz Financial Services Inc. raised its position in Avnet by 62.0% in the fourth quarter. Hantz Financial Services Inc. now owns 852 shares of the company's stock worth $41,000 after acquiring an additional 326 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in Avnet by 123.7% in the fourth quarter. Clearstead Advisors LLC now owns 1,385 shares of the company's stock worth $67,000 after acquiring an additional 766 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Bank of America upgraded shares of Avnet from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $66.00 to $96.00 in a research report on Wednesday, May 13th. Raymond James Financial reiterated a "strong-buy" rating and issued a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Wells Fargo & Company raised their price objective on shares of Avnet from $70.00 to $72.00 and gave the company an "underweight" rating in a research note on Monday, July 20th. Weiss Ratings raised shares of Avnet from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, July 13th. Finally, Truist Financial upped their target price on shares of Avnet to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.50.

Insider Buying and Selling

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the completion of the transaction, the chief executive officer directly owned 145,003 shares in the company, valued at approximately $12,023,648.76. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company's stock.

Avnet Stock Performance

Shares of AVT stock opened at $89.42 on Monday. The stock has a fifty day moving average price of $87.31 and a 200 day moving average price of $72.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01. The stock has a market cap of $7.33 billion, a PE ratio of 34.79, a P/E/G ratio of 0.28 and a beta of 1.09. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $95.26.

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

Avnet Dividend Announcement

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

Avnet Company 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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