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

UBS Group AG lessened its holdings in Avnet, Inc. (NASDAQ:AVT) by 57.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 158,177 shares of the company’s stock after selling 210,150 shares during the quarter. UBS Group AG’s holdings in Avnet were worth $7,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC raised its position in shares of Avnet by 34.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,265,679 shares of the company’s stock valued at $117,974,000 after acquiring an additional 585,141 shares during the last quarter. Vanguard Group Inc. grew its stake in Avnet by 2.0% in the third quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company’s stock valued at $563,738,000 after acquiring an additional 214,290 shares during the period. Millennium Management LLC grew its stake in Avnet by 86.9% in the third quarter. Millennium Management LLC now owns 373,422 shares of the company’s stock valued at $19,523,000 after acquiring an additional 173,579 shares during the period. Bank of America Corp DE grew its position in shares of Avnet by 13.9% in the 3rd quarter. Bank of America Corp DE now owns 1,041,359 shares of the company’s stock valued at $54,442,000 after purchasing an additional 127,118 shares during the period. Finally, American Century Companies Inc. raised its holdings in Avnet by 3.4% during the 3rd quarter. American Century Companies Inc. now owns 3,751,726 shares of the company’s stock worth $196,140,000 after buying an additional 124,466 shares during the period. 95.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Avnet Trading Down 0.9%

Shares of AVT stock opened at $83.33 on Tuesday. The stock has a market cap of $6.83 billion, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 0.38 and a beta of 1.09. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $87.46. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $69.93 and a 200 day simple moving average of $59.24.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, April 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.33 by $0.15. The company had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $6.45 billion. Avnet had a net margin of 0.86% and a return on equity of 7.07%. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, research analysts predict that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, March 4th. Avnet’s dividend payout ratio (DPR) is presently 54.47%.

Insider Activity

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 145,003 shares in the company, valued at $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.

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.