Avnet, Inc. $AVT Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,441 shares of the company’s stock after selling 1,864 shares during the quarter. Amalgamated Bank’s holdings in Avnet were worth $2,040,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AVT. MassMutual Private Wealth & Trust FSB raised its stake in shares of Avnet by 109.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 528 shares of the company’s stock worth $28,000 after buying an additional 276 shares during the period. TD Private Client Wealth LLC raised its stake in Avnet by 43.0% in the 1st quarter. TD Private Client Wealth LLC now owns 818 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. SVB Wealth LLC acquired a new position in Avnet in the 1st quarter valued at $54,000. Caitong International Asset Management Co. Ltd raised its stake in Avnet by 877.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,310 shares of the company’s stock valued at $63,000 after purchasing an additional 1,176 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Avnet in the 1st quarter valued at $90,000. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Stock Up 1.5%

Shares of AVT opened at $48.00 on Thursday. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $57.68. The company has a market capitalization of $4.00 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 0.36 and a beta of 1.06. The stock has a fifty day simple moving average of $51.96 and a two-hundred day simple moving average of $52.22. The company has a quick ratio of 1.16, a current ratio of 2.36 and a debt-to-equity ratio of 0.58.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, October 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Avnet had a return on equity of 5.91% and a net margin of 1.04%.The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the company earned $0.92 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Avnet has set its Q2 2026 guidance at 0.900-1.000 EPS. As a group, equities analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Wednesday, September 17th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, September 17th. This is a positive change from Avnet’s previous quarterly dividend of $0.33. Avnet’s dividend payout ratio is 52.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AVT shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Avnet in a research note on Wednesday, October 8th. Truist Financial increased their price objective on Avnet from $54.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Bank of America increased their price objective on Avnet from $48.00 to $50.00 and gave the company an “underperform” rating in a research note on Monday, August 11th. Finally, Zacks Research raised Avnet from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $49.33.

About Avnet

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.