UBS Group AG Has $7.61 Million Stock Holdings in Avnet, Inc. $AVT

Key Points

• UBS Group AG cut its Avnet stake by 57.1% in the fourth quarter, though it still held 158,177 shares worth about $7.61 million. Institutional ownership remains very high, with hedge funds and other institutions controlling 95.78% of the stock.
• Avnet CEO Philip R. Gallagher sold 23,920 shares on May 5 at $82.92 each, reducing his direct ownership by 14.16%. Corporate insiders now own about 1.90% of the company.
• The company posted a strong quarter, with EPS of $1.48 topping estimates and revenue of $7.12 billion beating expectations. Avnet also maintained a quarterly dividend of $0.35 per share, while analysts’ consensus rating remains Moderate Buy with an average target price of $89.00.

UBS Group AG trimmed its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 57.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,177 shares of the company's stock after selling 210,150 shares during the period. UBS Group AG owned about 0.19% of Avnet worth $7,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AVT. Hantz Financial Services Inc. boosted its position in Avnet by 132.7% during the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company's stock worth $27,000 after purchasing an additional 300 shares during the period. BOKF NA raised its position in shares of 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 during the period. MAI Capital Management raised its position in shares of 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 during the period. Allworth Financial LP lifted its stake in shares of Avnet by 199.1% in the third quarter. Allworth Financial LP now owns 700 shares of the company's stock worth $37,000 after buying an additional 466 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Avnet by 53.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company's stock worth $35,000 after buying an additional 258 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Avnet

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were 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 in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by corporate insiders.

Avnet Price Performance

Avnet stock opened at $83.33 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05. The company has a market capitalization of $6.83 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 0.38 and a beta of 1.09. Avnet, Inc. has a one year low of $44.25 and a one year high of $87.46. The business has a 50 day simple moving average of $69.93 and a 200 day simple moving average of $59.24.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly 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. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The firm had revenue of $7.12 billion for the quarter, compared to analysts' expectations of $6.45 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The business'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. On average, sell-side analysts forecast that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.7%. Avnet's dividend payout ratio (DPR) is 54.47%.

Analyst Ratings Changes

AVT has been the subject of several recent analyst reports. Zacks Research raised shares of Avnet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 14th. Wells Fargo & Company boosted their target price on shares of Avnet from $60.00 to $70.00 and gave the stock an "underweight" rating in a research report on Thursday, April 30th. Bank of America raised 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 report on Wednesday, May 13th. Wall Street Zen lowered shares of Avnet from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Finally, Truist Financial upped their price objective on shares of Avnet to $95.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Avnet has an average rating of "Moderate Buy" and a consensus price target of $89.00.

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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