Daiwa Securities Group Inc. Has $1.40 Million Position in AmerisourceBergen Co. (NYSE:ABC)

Daiwa Securities Group Inc. boosted its holdings in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,374 shares of the company’s stock after purchasing an additional 395 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AmerisourceBergen were worth $1,404,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Crewe Advisors LLC purchased a new position in AmerisourceBergen during the 2nd quarter worth $29,000. MV Capital Management Inc. boosted its holdings in AmerisourceBergen by 420.0% during the 2nd quarter. MV Capital Management Inc. now owns 260 shares of the company’s stock worth $37,000 after acquiring an additional 210 shares during the last quarter. Trust Co. of Vermont purchased a new position in AmerisourceBergen during the 2nd quarter worth $42,000. Clear Street Markets LLC boosted its holdings in AmerisourceBergen by 409.7% during the 2nd quarter. Clear Street Markets LLC now owns 316 shares of the company’s stock worth $45,000 after acquiring an additional 254 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in AmerisourceBergen during the 2nd quarter worth $53,000. Institutional investors and hedge funds own 84.79% of the company’s stock.

AmerisourceBergen Stock Down 0.4 %

ABC stock opened at $162.21 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 64.99. The firm has a market capitalization of $33.36 billion, a PE ratio of 20.18, a PEG ratio of 1.63 and a beta of 0.55. AmerisourceBergen Co. has a twelve month low of $127.94 and a twelve month high of $174.63. The stock has a 50-day simple moving average of $165.65 and a two-hundred day simple moving average of $152.59.

AmerisourceBergen (NYSE:ABCGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.02. The business had revenue of $61.17 billion during the quarter, compared to analyst estimates of $60.56 billion. AmerisourceBergen had a return on equity of 444.46% and a net margin of 0.71%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.39 EPS. On average, equities analysts predict that AmerisourceBergen Co. will post 11.5 EPS for the current fiscal year.

AmerisourceBergen Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Monday, November 14th were issued a dividend of $0.485 per share. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, November 10th. This represents a $1.94 annualized dividend and a dividend yield of 1.20%. AmerisourceBergen’s payout ratio is presently 24.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a report on Friday. Credit Suisse Group lifted their target price on AmerisourceBergen from $175.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 22nd. Cowen lowered their target price on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 18th. Bank Of America (Bofa) upgraded AmerisourceBergen to a “buy” rating in a research note on Tuesday, October 11th. Finally, Bank of America upgraded AmerisourceBergen from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $160.00 to $169.00 in a research note on Tuesday, October 11th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $176.25.

Insider Transactions at AmerisourceBergen

In other news, CAO Lazarus Krikorian sold 2,218 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $169.24, for a total transaction of $375,374.32. Following the completion of the transaction, the chief accounting officer now owns 20,007 shares of the company’s stock, valued at $3,385,984.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Lazarus Krikorian sold 2,218 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $169.24, for a total transaction of $375,374.32. Following the completion of the transaction, the chief accounting officer now owns 20,007 shares of the company’s stock, valued at $3,385,984.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert P. Mauch sold 21,802 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $160.00, for a total value of $3,488,320.00. Following the transaction, the chief operating officer now directly owns 20,197 shares of the company’s stock, valued at approximately $3,231,520. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,279,532 shares of company stock valued at $3,043,889,702. 28.40% of the stock is owned by corporate insiders.

About AmerisourceBergen

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AmerisourceBergen Corp. engages in the provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, and long-term care and alternate site pharmacies.

See Also

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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