65,734 Shares in Avnet, Inc. $AVT Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new stake in shares of Avnet, Inc. (NASDAQ:AVT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 65,734 shares of the company’s stock, valued at approximately $5,838,000. Oppenheimer Asset Management Inc. owned approximately 0.08% of Avnet as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new stake in shares of Avnet during the 4th quarter valued at $28,000. BOKF NA increased its stake in shares of Avnet by 1,116.7% in the third quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after acquiring an additional 536 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Avnet by 62.0% during the fourth 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. Elevation Wealth Partners LLC raised its holdings in shares of Avnet by 38.5% during the second quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock worth $59,000 after acquiring an additional 185 shares in the last quarter. Finally, Clearstead Advisors LLC boosted its position in Avnet by 123.7% during the fourth quarter. Clearstead Advisors LLC now owns 1,385 shares of the company’s stock valued at $67,000 after purchasing an additional 766 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Performance

AVT opened at $95.71 on Friday. The stock has a market cap of $7.85 billion, a PE ratio of 23.99, a P/E/G ratio of 0.32 and a beta of 1.09. 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 1 year low of $44.25 and a 1 year high of $100.00. The stock’s 50 day simple moving average is $89.01 and its 200-day simple moving average is $77.10.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.48. The business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%.Avnet’s revenue was up 47.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Sell-side analysts forecast that Avnet, Inc. will post 9.66 EPS for the current year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Avnet’s dividend payout ratio (DPR) is presently 35.09%.

Analysts Set New Price Targets

AVT has been the topic of a number of recent research reports. Truist Financial boosted their target price on Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Raymond James Financial restated a “strong-buy” rating and issued a $95.00 price objective on shares of Avnet in a report on Thursday, April 30th. Finally, Bank of America upgraded Avnet from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $66.00 to $96.00 in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Buying and Selling at Avnet

In related news, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 168,923 shares of the company’s stock, valued at $16,632,158.58. The trade was a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

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.