Avnet, Inc. (NASDAQ:AVT) Plans Quarterly Dividend of $0.35

Avnet, Inc. (NASDAQ:AVT) declared a quarterly dividend on Wednesday, May 20th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of 0.35 per share on Wednesday, June 17th. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 3rd.

Avnet has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 12 years. Avnet has a payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Avnet to earn $7.30 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 19.2%.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $84.72 on Thursday. The firm has a market cap of $6.95 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 0.37 and a beta of 1.09. The firm’s fifty day moving average is $70.84 and its 200-day moving average is $59.74. 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 has a 52 week low of $44.25 and a 52 week high of $87.46.

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

Insider Buying and Selling at Avnet

In other news, CEO Philip R. Gallagher sold 23,920 shares of the 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 sale, the chief executive officer directly owned 145,003 shares in the company, valued at $12,023,648.76. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its stake in Avnet by 132.7% during the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Summit Securities Group LLC bought a new position in Avnet during the fourth quarter worth $28,000. BOKF NA boosted its stake in Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after acquiring an additional 536 shares in the last quarter. MAI Capital Management boosted its stake in Avnet by 53.7% during the third quarter. MAI Capital Management now owns 673 shares of the company’s stock worth $35,000 after acquiring an additional 235 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted 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 worth $35,000 after acquiring an additional 258 shares in the last quarter. 95.78% of the stock is owned by institutional investors.

About Avnet

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.