Citigroup Inc. Increases Stock Position in Avnet, Inc. $AVT

Citigroup Inc. increased its holdings in Avnet, Inc. (NASDAQ:AVT) by 27.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 103,509 shares of the company’s stock after buying an additional 22,063 shares during the period. Citigroup Inc. owned 0.13% of Avnet worth $5,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. lifted its position in shares of 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. Quent Capital LLC bought a new stake in shares of Avnet during the 3rd quarter valued at $38,000. Winnow Wealth LLC purchased a new stake in Avnet during the 3rd quarter worth about $39,000. SJS Investment Consulting Inc. lifted its holdings in Avnet by 7,176.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 946 shares of the company’s stock worth $49,000 after purchasing an additional 933 shares in the last quarter. Finally, Traub Capital Management LLC bought a new position in Avnet in the 2nd quarter worth about $50,000. Institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

AVT has been the topic of several analyst reports. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. Wall Street Zen raised shares of Avnet from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Wells Fargo & Company increased their target price on shares of Avnet from $43.00 to $48.00 and gave the stock an “underweight” rating in a research note on Thursday, January 29th. Finally, Truist Financial boosted their price target on shares of Avnet from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Avnet presently has an average rating of “Reduce” and an average target price of $54.33.

Avnet Trading Down 1.9%

Shares of AVT opened at $63.77 on Wednesday. Avnet, Inc. has a 1-year low of $39.22 and a 1-year high of $68.29. The company has a market capitalization of $5.22 billion, a P/E ratio of 26.14, a P/E/G ratio of 0.48 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.07. The firm’s 50 day simple moving average is $57.50 and its 200 day simple moving average is $53.05.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.03 billion. Avnet had a net margin of 0.90% and a return on equity of 6.08%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 EPS. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. Sell-side analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, March 4th. Avnet’s dividend payout ratio is presently 57.38%.

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.