Panagora Asset Management Inc. Increases Stake in AmerisourceBergen Co. (NYSE:ABC)

Panagora Asset Management Inc. raised its holdings in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 32.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,218 shares of the company’s stock after buying an additional 3,472 shares during the period. Panagora Asset Management Inc.’s holdings in AmerisourceBergen were worth $2,200,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ABC. BlackRock Inc. increased its holdings in AmerisourceBergen by 18.3% during the 4th quarter. BlackRock Inc. now owns 13,036,024 shares of the company’s stock worth $1,732,356,000 after purchasing an additional 2,016,216 shares during the period. Norges Bank purchased a new position in AmerisourceBergen in the fourth quarter worth approximately $188,449,000. Envestnet Asset Management Inc. grew its holdings in AmerisourceBergen by 104.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 897,803 shares of the company’s stock worth $138,899,000 after acquiring an additional 459,018 shares in the last quarter. State Street Corp increased its position in shares of AmerisourceBergen by 5.2% in the 4th quarter. State Street Corp now owns 6,807,567 shares of the company’s stock valued at $904,658,000 after purchasing an additional 338,819 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of AmerisourceBergen by 1,060.5% in the 1st quarter. Strs Ohio now owns 303,294 shares of the company’s stock valued at $46,922,000 after purchasing an additional 277,159 shares in the last quarter. Institutional investors and hedge funds own 64.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABC. Morgan Stanley increased their target price on AmerisourceBergen from $175.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, August 22nd. UBS Group upped their target price on shares of AmerisourceBergen from $144.00 to $174.00 and gave the company a “buy” rating in a report on Monday, June 13th. Deutsche Bank Aktiengesellschaft upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and raised their price objective for the company from $167.00 to $178.00 in a research report on Tuesday, June 7th. Barclays upgraded AmerisourceBergen from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $182.00 in a research note on Thursday, May 26th. Finally, raised AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.55.

Insider Transactions at AmerisourceBergen

In other news, CEO Steven H. Collis sold 11,480 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $142.35, for a total transaction of $1,634,178.00. Following the completion of the transaction, the chief executive officer now owns 205,178 shares of the company’s stock, valued at approximately $29,207,088.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 34,440 shares of company stock worth $4,911,374 over the last quarter. 28.80% of the stock is currently owned by insiders.

AmerisourceBergen Stock Performance

NYSE ABC opened at $147.84 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt-to-equity ratio of 8.96. The stock has a market cap of $30.64 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.46. AmerisourceBergen Co. has a fifty-two week low of $113.68 and a fifty-two week high of $167.19. The business has a fifty day moving average of $144.84 and a 200-day moving average of $149.16.

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

AmerisourceBergen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Friday, August 12th. AmerisourceBergen’s dividend payout ratio is presently 21.10%.

AmerisourceBergen Company 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.

See Also

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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