Hsbc Holdings PLC Cuts Stock Position in Avnet, Inc. $AVT

Hsbc Holdings PLC lessened its holdings in Avnet, Inc. (NASDAQ:AVT) by 47.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 quarter.

A number of other hedge funds also recently bought and sold shares of the business. Quadrant Capital Group LLC grew its stake in shares of Avnet by 2.1% in the 4th quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company’s stock worth $422,000 after buying an additional 184 shares in the last quarter. World Investment Advisors raised its position in shares of Avnet by 2.3% during the 4th quarter. World Investment Advisors now owns 9,873 shares of the company’s stock valued at $471,000 after buying an additional 219 shares in the last quarter. Deutsche Bank AG raised its position in shares of Avnet by 0.8% during the 4th quarter. Deutsche Bank AG now owns 31,122 shares of the company’s stock valued at $1,496,000 after buying an additional 234 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Avnet by 53.7% in the 3rd quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after acquiring an additional 235 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in 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 acquiring an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

AVT has been the topic of a number of recent research reports. Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Truist Financial lifted their target price on Avnet to $95.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Wells Fargo & Company increased 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. Finally, Raymond James Financial restated a “strong-buy” rating and set a $95.00 price target on shares of Avnet in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Avnet presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

Insider Transactions at Avnet

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the company’s stock in a transaction 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 owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This represents a 14.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by insiders.

Avnet Stock Performance

Shares of NASDAQ:AVT opened at $87.28 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a 12 month low of $44.25 and a 12 month high of $95.26. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 0.40 and a beta of 1.09. The firm’s 50-day moving average is $85.76 and its 200 day moving average is $68.42.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.15. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The business had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The firm’s quarterly 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. Research analysts predict that Avnet, Inc. will post 5.12 EPS for the current 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 issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. Avnet’s payout ratio is presently 54.47%.

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.