Avnet, Inc. (NASDAQ:AVT) Announces Quarterly Dividend of $0.37

Avnet, Inc. (NASDAQ:AVT) declared a quarterly dividend on Thursday, August 20th. Shareholders of record on Wednesday, September 9th will be given a dividend of 0.37 per share on Wednesday, September 23rd. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, September 9th. This is a 5.7% increase from Avnet’s previous quarterly dividend of $0.35.

Avnet has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Avnet has a payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Avnet to earn $10.35 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 13.5%.

Avnet Stock Performance

Shares of NASDAQ AVT opened at $86.89 on Friday. Avnet has a 12-month low of $44.25 and a 12-month high of $100.00. The company has a market cap of $7.13 billion, a PE ratio of 21.78, a P/E/G ratio of 0.29 and a beta of 1.09. The stock has a 50 day simple moving average of $89.39 and a 200-day simple moving average of $78.19. 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 (NASDAQ:AVT) last issued its quarterly 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 company had revenue of $8.30 billion for 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%.The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, equities research analysts forecast that Avnet will post 9.66 EPS for the current year.

Insider Buying and Selling at Avnet

In other news, CEO Philip R. Gallagher sold 51,900 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was 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 owned 168,923 shares in the company, valued at $16,632,158.58. This trade represents a 23.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Avnet

Several hedge funds and other institutional investors have recently made changes to their positions in AVT. Empowered Funds LLC boosted its stake in shares of Avnet by 1.9% in the 1st quarter. Empowered Funds LLC now owns 6,833 shares of the company’s stock valued at $421,000 after purchasing an additional 129 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Avnet by 0.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,511 shares of the company’s stock valued at $1,264,000 after acquiring an additional 159 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of Avnet by 1.6% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 10,896 shares of the company’s stock valued at $671,000 after purchasing an additional 176 shares during the period. Quadrant Capital Group LLC lifted its position in Avnet by 2.1% during the 4th quarter. Quadrant Capital Group LLC now owns 8,778 shares of the company’s stock valued at $422,000 after acquiring an additional 184 shares during the period. Finally, Elevation Wealth Partners LLC grew its position in Avnet by 38.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock valued at $59,000 after purchasing an additional 185 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

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.