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

Hsbc Holdings PLC lessened its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 47.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 large investors have also recently modified their holdings of AVT. Summit Securities Group LLC bought a new position in Avnet in the fourth quarter worth approximately $28,000. BOKF NA increased its stake in shares of 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 during the period. MAI Capital Management raised its holdings 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 acquiring an additional 235 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake 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 during the period. Finally, Allworth Financial LP lifted its stake in Avnet by 199.1% in the third quarter. Allworth Financial LP now owns 700 shares of the company’s stock worth $37,000 after acquiring an additional 466 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of Avnet stock opened at $87.28 on Thursday. The company has a market capitalization of $7.16 billion, a PE ratio of 33.96, a P/E/G ratio of 0.40 and a beta of 1.09. The company has a 50-day simple moving average of $85.76 and a two-hundred day simple moving average of $68.42. Avnet, Inc. has a one year low of $44.25 and a one year high of $95.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01.

Avnet (NASDAQ:AVT) last released 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 net margin of 0.86% and a return on equity of 7.07%. The business had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the business earned $0.84 EPS. The company’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. Research analysts expect 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. Shareholders of record on Wednesday, June 3rd were paid 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%.

Analysts Set New Price Targets

Several research analysts have issued reports on AVT shares. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Avnet in a research report on Tuesday, June 16th. Truist Financial increased their price objective on shares of Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Avnet from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Two equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Insiders Place Their Bets

In other Avnet news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction 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 transaction, the chief executive officer directly owned 145,003 shares of the company’s stock, valued at approximately $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

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.