Avnet, Inc. $AVT Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its holdings in Avnet, Inc. (NASDAQ:AVT) by 47.2% during the fourth quarter, Holdings Channel reports. The firm owned 25,582 shares of the company’s stock after selling 22,871 shares during the period. Hsbc Holdings PLC’s holdings in Avnet were worth $1,235,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AVT. Summit Securities Group LLC acquired a new position in shares of Avnet in the 4th quarter valued at $28,000. BOKF NA lifted its stake in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after buying an additional 536 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Avnet by 53.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after buying an additional 258 shares in the last quarter. Allworth Financial LP boosted its holdings 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 period. Finally, Hantz Financial Services Inc. boosted its stake in Avnet by 62.0% in the 4th quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock worth $41,000 after purchasing an additional 326 shares during the period. 95.78% of the stock is currently owned by institutional investors.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $87.13 on Monday. The stock has a market capitalization of $7.15 billion, a P/E ratio of 33.90, a P/E/G ratio of 0.28 and a beta of 1.09. The business has a 50-day moving average of $86.54 and a two-hundred day moving average of $70.12. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $95.26. 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 (NASDAQ:AVT) last issued its quarterly earnings data 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 business had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the business earned $0.84 EPS. The firm’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, equities research analysts predict 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, June 17th. Investors of record on Wednesday, June 3rd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.6%. The ex-dividend date was Wednesday, June 3rd. Avnet’s dividend payout ratio (DPR) is 54.47%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Truist Financial lifted their price target on Avnet to $95.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Avnet in a research report on Tuesday, June 16th. Wall Street Zen downgraded Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.00.

Insider Buying and Selling

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the business’s stock in a transaction on 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 owned 145,003 shares of the company’s stock, valued at $12,023,648.76. The trade was a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

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.