Covestor Ltd Boosts Stock Position in AmerisourceBergen Co. (NYSE:ABC)

Covestor Ltd lifted its position in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 1,396.1% in the first quarter, Holdings Channel.com reports. The firm owned 1,526 shares of the company’s stock after purchasing an additional 1,424 shares during the quarter. Covestor Ltd’s holdings in AmerisourceBergen were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of AmerisourceBergen by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 363,009 shares of the company’s stock valued at $48,240,000 after acquiring an additional 11,367 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of AmerisourceBergen by 25.8% in the 4th quarter. HighTower Advisors LLC now owns 46,183 shares of the company’s stock valued at $6,169,000 after acquiring an additional 9,465 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of AmerisourceBergen by 1.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 31,929 shares of the company’s stock valued at $4,272,000 after acquiring an additional 304 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of AmerisourceBergen in the 4th quarter valued at about $407,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of AmerisourceBergen by 5.2% in the 4th quarter. Teacher Retirement System of Texas now owns 71,826 shares of the company’s stock valued at $9,545,000 after acquiring an additional 3,540 shares during the last quarter. 64.17% of the stock is currently owned by hedge funds and other institutional investors.

AmerisourceBergen Stock Down 0.2 %

ABC stock opened at $147.54 on Friday. AmerisourceBergen Co. has a fifty-two week low of $113.68 and a fifty-two week high of $167.19. The business’s 50 day moving average price is $144.96 and its two-hundred day moving average price is $149.15. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.55 and a current ratio of 0.92. The company has a market capitalization of $30.58 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.62 and a beta of 0.46.

AmerisourceBergen (NYSE:ABCGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.06. The firm had revenue of $60.06 billion for the quarter, compared to the consensus estimate of $59.03 billion. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 EPS. As a group, analysts forecast that AmerisourceBergen Co. will post 11 earnings per share for the current fiscal year.

AmerisourceBergen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Monday, August 15th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.84 annualized dividend and a dividend yield of 1.25%. AmerisourceBergen’s payout ratio is currently 21.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABC. Cowen lowered their target price on AmerisourceBergen from $171.00 to $170.00 and set an “outperform” rating for the company in a research note on Thursday, June 9th. Barclays raised AmerisourceBergen from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $175.00 to $182.00 in a research report on Thursday, May 26th. Evercore ISI lowered their price target on AmerisourceBergen to $165.00 in a research report on Friday, June 3rd. UBS Group upped their price target on AmerisourceBergen from $144.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, June 13th. Finally, Argus upped their price target on AmerisourceBergen from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 20th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $173.55.

Insider Buying and Selling

In related news, CEO Steven H. Collis sold 11,480 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $142.35, for a total value of $1,634,178.00. Following the sale, the chief executive officer now owns 205,178 shares in the company, valued at approximately $29,207,088.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 34,440 shares of company stock worth $4,911,374 in the last 90 days. Insiders own 28.40% of the company’s stock.

AmerisourceBergen Profile

(Get Rating)

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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