180 Wealth Advisors LLC Acquires 190 Shares of AmerisourceBergen Co. (NYSE:ABC)

180 Wealth Advisors LLC raised its holdings in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 10.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,014 shares of the company’s stock after acquiring an additional 190 shares during the period. 180 Wealth Advisors LLC’s holdings in AmerisourceBergen were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABC. Herold Advisors Inc. bought a new position in AmerisourceBergen in the first quarter valued at about $31,000. Massmutual Trust Co. FSB ADV grew its position in AmerisourceBergen by 133.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock valued at $32,000 after acquiring an additional 120 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in AmerisourceBergen by 1,078.9% in the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $35,000 after acquiring an additional 205 shares during the last quarter. Johnson Financial Group Inc. bought a new position in AmerisourceBergen in the fourth quarter valued at about $38,000. Finally, Quent Capital LLC bought a new stake in shares of AmerisourceBergen during the fourth quarter worth about $38,000. Institutional investors own 64.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ABC shares. Morgan Stanley boosted their price target on AmerisourceBergen from $175.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, August 22nd. StockNews.com upgraded AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 9th. Barclays upgraded AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $182.00 in a report on Thursday, May 26th. Credit Suisse Group reduced their target price on AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Finally, Cowen dropped their price target on AmerisourceBergen from $171.00 to $170.00 in a research note on Thursday, June 9th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AmerisourceBergen has an average rating of “Moderate Buy” and an average price target of $173.55.

Insider Activity at AmerisourceBergen

In related news, CEO Steven H. Collis sold 11,480 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $144.25, for a total value of $1,655,990.00. Following the completion of the sale, the chief executive officer now directly owns 205,178 shares of the company’s stock, valued at approximately $29,596,926.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 34,440 shares of company stock valued at $4,924,920. 28.40% of the stock is owned by insiders.

AmerisourceBergen Price Performance

Shares of NYSE:ABC opened at $140.55 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt-to-equity ratio of 8.96. AmerisourceBergen Co. has a twelve month low of $113.68 and a twelve month high of $167.19. The stock’s 50 day moving average is $145.08 and its 200-day moving average is $149.29. The firm has a market capitalization of $29.13 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.56 and a beta of 0.46.

AmerisourceBergen (NYSE:ABCGet Rating) last issued 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. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The company had revenue of $60.06 billion for the quarter, compared to analyst estimates of $59.03 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. AmerisourceBergen’s revenue for the quarter was up 12.5% on a year-over-year basis. Sell-side analysts forecast that AmerisourceBergen Co. will post 11 EPS for the current fiscal year.

AmerisourceBergen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, August 12th. AmerisourceBergen’s payout ratio is 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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