United Capital Financial Advisors LLC Makes New $1.16 Million Investment in Avnet, Inc. $AVT

United Capital Financial Advisors LLC bought a new stake in shares of Avnet, Inc. (NASDAQ:AVT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,087 shares of the company’s stock, valued at approximately $1,162,000.

A number of other hedge funds also recently bought and sold shares of the business. Royal Bank of Canada increased its position in shares of Avnet by 3.0% in the first quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock valued at $3,447,000 after buying an additional 2,101 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Avnet by 16.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock valued at $11,148,000 after buying an additional 31,919 shares in the last quarter. United Services Automobile Association acquired a new stake in Avnet in the 1st quarter valued at $267,000. Empowered Funds LLC grew its stake in Avnet by 9.3% in the 1st quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock valued at $392,000 after acquiring an additional 696 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Avnet by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock worth $17,012,000 after acquiring an additional 16,443 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Insider Buying and Selling

In other news, SVP Michael Ryan Mccoy sold 32,052 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total value of $2,919,937.20. Following the transaction, the senior vice president owned 76,674 shares of the company’s stock, valued at $6,985,001.40. This represents a 29.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total value of $5,110,074.00. Following the completion of the transaction, the chief executive officer directly owned 168,923 shares in the company, valued at approximately $16,632,158.58. This trade represents a 23.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AVT shares. Wall Street Zen upgraded shares of Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Truist Financial boosted their price objective on Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised Avnet from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 14th. Zacks Research upgraded Avnet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company lifted their price target on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

Avnet Trading Down 3.1%

Shares of AVT stock opened at $88.63 on Friday. The company has a current ratio of 1.78, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. Avnet, Inc. has a twelve month low of $44.25 and a twelve month high of $100.00. The company’s 50-day moving average price is $89.13 and its 200-day moving average price is $79.13. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 0.27 and a beta of 1.09.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.48. The company had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $7.56 billion. Avnet had a net margin of 1.21% and a return on equity of 9.57%. Avnet’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. As a group, equities analysts predict that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th will be issued a $0.37 dividend. This is a boost from Avnet’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Wednesday, September 9th. Avnet’s payout ratio is currently 35.09%.

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.