Corient Private Wealth LLC Decreases Stake in Avnet, Inc. $AVT

Corient Private Wealth LLC lessened its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 28.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,843 shares of the company’s stock after selling 23,527 shares during the period. Corient Private Wealth LLC’s holdings in Avnet were worth $2,829,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Avnet by 3.0% during the 1st quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock valued at $3,447,000 after acquiring an additional 2,101 shares during the period. Goldman Sachs Group Inc. boosted its stake in Avnet by 16.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock worth $11,148,000 after purchasing an additional 31,919 shares during the period. United Services Automobile Association purchased a new position in Avnet during the 1st quarter valued at about $267,000. Empowered Funds LLC grew its holdings in Avnet by 9.3% during the 1st quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock valued at $392,000 after buying an additional 696 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Avnet by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock valued at $17,012,000 after buying an additional 16,443 shares during the period. Institutional investors own 95.78% of the company’s stock.

Analyst Upgrades and Downgrades

AVT has been the subject of several analyst reports. Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Wall Street Zen downgraded Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Truist Financial lifted their price objective on Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company raised their price target on Avnet from $60.00 to $70.00 and gave the company an “underweight” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.00.

Insider Activity

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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Avnet Price Performance

AVT opened at $86.33 on Monday. 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 capitalization of $7.08 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 0.39 and a beta of 1.08. The stock’s 50 day moving average price is $84.90 and its 200-day moving average price is $67.62. Avnet, Inc. has a 52-week low of $44.25 and a 52-week high of $95.26.

Avnet (NASDAQ:AVT) last announced 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. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The firm had revenue of $7.12 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter 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 year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. Avnet’s payout ratio is currently 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.