MUFG Americas Holdings Corp Purchases 144 Shares of AmerisourceBergen Co. (NYSE:ABC)

MUFG Americas Holdings Corp lifted its stake in shares of AmerisourceBergen Co. (NYSE:ABCGet Rating) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,043 shares of the company’s stock after buying an additional 144 shares during the period. MUFG Americas Holdings Corp’s holdings in AmerisourceBergen were worth $161,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ABC. BlackRock Inc. boosted its position in shares of AmerisourceBergen by 18.3% during the fourth quarter. BlackRock Inc. now owns 13,036,024 shares of the company’s stock valued at $1,732,356,000 after buying an additional 2,016,216 shares during the last quarter. Norges Bank purchased a new position in AmerisourceBergen in the fourth quarter worth $188,449,000. American Century Companies Inc. boosted its position in AmerisourceBergen by 20,595.2% in the fourth quarter. American Century Companies Inc. now owns 846,847 shares of the company’s stock worth $112,537,000 after purchasing an additional 842,755 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in AmerisourceBergen by 104.6% in the first quarter. Envestnet Asset Management Inc. now owns 897,803 shares of the company’s stock worth $138,899,000 after purchasing an additional 459,018 shares during the last quarter. Finally, State Street Corp boosted its position in AmerisourceBergen by 5.2% in the fourth quarter. State Street Corp now owns 6,807,567 shares of the company’s stock worth $904,658,000 after purchasing an additional 338,819 shares during the last quarter. Hedge funds and other institutional investors own 64.17% of the company’s stock.

Insider Activity at AmerisourceBergen

In related news, CAO Lazarus Krikorian sold 4,895 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $160.00, for a total transaction of $783,200.00. Following the completion of the transaction, the chief accounting officer now owns 14,079 shares of the company’s stock, valued at $2,252,640. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AmerisourceBergen news, CAO Lazarus Krikorian sold 4,895 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $160.00, for a total transaction of $783,200.00. Following the completion of the sale, the chief accounting officer now directly owns 14,079 shares in the company, valued at $2,252,640. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven H. Collis sold 11,480 shares of AmerisourceBergen stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $141.22, for a total transaction of $1,621,205.60. Following the sale, the chief executive officer now owns 205,178 shares of the company’s stock, valued at $28,975,237.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,027,855 shares of company stock valued at $904,038,584. Corporate insiders own 28.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ABC shares. StockNews.com cut AmerisourceBergen from a “strong-buy” rating to a “buy” rating in a research report on Monday. Morgan Stanley cut their price objective on AmerisourceBergen from $178.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, May 27th. Barclays raised AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $182.00 in a research report on Thursday, May 26th. Credit Suisse Group dropped their price target on AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Evercore ISI cut their price target on AmerisourceBergen to $165.00 in a research note on Friday, June 3rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.45.

AmerisourceBergen Price Performance

ABC stock opened at $139.27 on Friday. The firm has a 50 day moving average of $144.15 and a 200-day moving average of $147.35. The firm has a market capitalization of $29.17 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.56 and a beta of 0.48. AmerisourceBergen Co. has a 12 month low of $113.68 and a 12 month high of $167.19. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 8.96.

AmerisourceBergen (NYSE:ABCGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.56 by $0.06. The company had revenue of $60.06 billion during the quarter, compared to analysts’ expectations of $59.03 billion. AmerisourceBergen had a net margin of 0.78% and a return on equity of 350.60%. AmerisourceBergen’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.16 earnings per share. As a group, sell-side analysts predict that AmerisourceBergen Co. will post 10.98 earnings per share for the current fiscal year.

AmerisourceBergen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Monday, August 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.84 annualized dividend and a yield of 1.32%. AmerisourceBergen’s dividend payout ratio is currently 21.10%.

AmerisourceBergen Profile

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AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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