AmerisourceBergen Co. (NYSE:ABC) Stake Lowered by American Trust

American Trust lessened its holdings in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,599 shares of the company’s stock after selling 109 shares during the period. American Trust’s holdings in AmerisourceBergen were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Herold Advisors Inc. acquired a new position in shares of AmerisourceBergen during the first quarter valued at about $31,000. Massmutual Trust Co. FSB ADV lifted its position in shares of AmerisourceBergen by 133.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock worth $32,000 after purchasing an additional 120 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 205 shares during the period. Johnson Financial Group Inc. acquired a new stake in AmerisourceBergen in the fourth quarter worth $38,000. Finally, Quent Capital LLC bought a new stake in shares of AmerisourceBergen during the fourth quarter worth $38,000. Institutional investors and hedge funds own 64.17% of the company’s stock.

Insider Activity

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of AmerisourceBergen 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 completion of the transaction, the chief executive officer now directly owns 205,178 shares in the company, valued at $29,207,088.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 34,440 shares of company stock worth $4,924,920 over the last ninety days. Corporate insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ABC shares. Barclays raised shares of AmerisourceBergen from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $182.00 in a research report on Thursday, May 26th. Argus boosted their target price on shares of AmerisourceBergen from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 20th. Morgan Stanley upped their target price on shares of AmerisourceBergen from $175.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, August 22nd. Credit Suisse Group cut their target price on shares of AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. Finally, Cowen lowered their target price on shares of 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AmerisourceBergen currently has an average rating of “Moderate Buy” and a consensus target price of $173.55.

AmerisourceBergen Price Performance

ABC stock opened at $140.55 on Monday. AmerisourceBergen Co. has a 12-month low of $113.68 and a 12-month high of $167.19. The company has a market capitalization of $29.13 billion, a PE ratio of 16.12, a P/E/G ratio of 1.56 and a beta of 0.46. The company has a current ratio of 0.92, a quick ratio of 0.55 and a debt-to-equity ratio of 8.96. The business’s fifty day moving average price is $145.08 and its 200 day moving average price is $149.29.

AmerisourceBergen (NYSE:ABCGet Rating) last posted 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 firm had revenue of $60.06 billion during 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 firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 EPS. On average, sell-side analysts anticipate that AmerisourceBergen Co. will post 11 EPS for the current year.

AmerisourceBergen Announces Dividend

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