Avnet, Inc. $AVT Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. raised its holdings in Avnet, Inc. (NASDAQ:AVT) by 316.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,527 shares of the company’s stock after purchasing an additional 25,474 shares during the period. Meeder Asset Management Inc.’s holdings in Avnet were worth $2,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AVT. Summit Securities Group LLC bought a new stake in shares of Avnet in the fourth quarter worth $28,000. BOKF NA boosted its stake in Avnet by 1,116.7% during the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after acquiring an additional 536 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Avnet by 53.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after acquiring an additional 258 shares during the last quarter. Allworth Financial LP boosted its stake in Avnet by 199.1% during the 3rd quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after acquiring an additional 466 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Avnet by 62.0% during the 4th quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock worth $41,000 after acquiring an additional 326 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Stock Performance

Avnet stock opened at $85.02 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05. Avnet, Inc. has a 12 month low of $44.25 and a 12 month high of $95.26. The company has a fifty day moving average price of $86.91 and a two-hundred day moving average price of $71.65. The company has a market cap of $6.97 billion, a PE ratio of 33.08, a P/E/G ratio of 0.27 and a beta of 1.09.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, topping 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 company had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The firm’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 earnings per share 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 paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a yield of 1.6%. Avnet’s dividend payout ratio is 54.47%.

Wall Street Analyst Weigh In

AVT has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Avnet from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Zacks Research cut shares of Avnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Truist Financial lifted their price target on Avnet to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Monday. Finally, Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Avnet has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insiders Place Their Bets

In related news, CEO Philip R. Gallagher sold 23,920 shares of the stock in a transaction dated 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 sale, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

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.