Trek Financial LLC Has $252,000 Stake in AmerisourceBergen Co. (NYSE:ABC)

Trek Financial LLC reduced its holdings in AmerisourceBergen Co. (NYSE:ABC) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,572 shares of the company’s stock after selling 214 shares during the period. Trek Financial LLC’s holdings in AmerisourceBergen were worth $252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABC. Principal Financial Group Inc. raised its holdings in AmerisourceBergen by 5.0% during the fourth quarter. Principal Financial Group Inc. now owns 281,056 shares of the company’s stock worth $46,574,000 after acquiring an additional 13,361 shares in the last quarter. Vinva Investment Management Ltd bought a new position in shares of AmerisourceBergen in the 1st quarter valued at about $846,000. Caprock Group LLC bought a new position in shares of AmerisourceBergen in the 1st quarter valued at about $737,000. BOKF NA increased its stake in shares of AmerisourceBergen by 1.0% during the 4th quarter. BOKF NA now owns 8,782 shares of the company’s stock worth $1,455,000 after purchasing an additional 88 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in AmerisourceBergen by 156.2% during the first quarter. Envestnet Asset Management Inc. now owns 2,509,370 shares of the company’s stock worth $83,116,000 after purchasing an additional 1,530,083 shares during the period. 93.12% of the stock is owned by institutional investors.

AmerisourceBergen Stock Performance

NYSE:ABC opened at $179.98 on Monday. The company has a debt-to-equity ratio of 4.51, a quick ratio of 0.52 and a current ratio of 0.88. AmerisourceBergen Co. has a fifty-two week low of $135.14 and a fifty-two week high of $194.79. The company has a market cap of $36.39 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.79 and a beta of 0.56. The stock has a fifty day moving average price of $187.21 and a 200-day moving average price of $173.28.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.09. The firm had revenue of $66.95 billion for the quarter, compared to the consensus estimate of $63.93 billion. AmerisourceBergen had a net margin of 0.66% and a return on equity of 612.69%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.62 earnings per share. As a group, equities analysts anticipate that AmerisourceBergen Co. will post 11.92 EPS for the current fiscal year.

AmerisourceBergen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Friday, August 11th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, August 10th. AmerisourceBergen’s dividend payout ratio is presently 23.63%.

Insider Activity

In related news, CEO Steven H. Collis sold 10,499 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $178.44, for a total value of $1,873,441.56. Following the sale, the chief executive officer now directly owns 257,967 shares of the company’s stock, valued at $46,031,631.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Gina Clark sold 27,542 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $186.84, for a total transaction of $5,145,947.28. Following the sale, the executive vice president now owns 26,733 shares of the company’s stock, valued at approximately $4,994,793.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven H. Collis sold 10,499 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $178.44, for a total value of $1,873,441.56. Following the completion of the transaction, the chief executive officer now directly owns 257,967 shares of the company’s stock, valued at approximately $46,031,631.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,655,881 shares of company stock worth $310,997,955. Insiders own 20.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ABC. 888 reaffirmed a “maintains” rating on shares of AmerisourceBergen in a research report on Friday, May 26th. Mizuho upped their price objective on shares of AmerisourceBergen from $174.00 to $192.00 in a report on Tuesday, July 11th. TD Cowen raised their target price on shares of AmerisourceBergen from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Morgan Stanley upped their price target on shares of AmerisourceBergen from $176.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. Finally, Bank of America raised their price objective on shares of AmerisourceBergen from $200.00 to $212.00 in a research report on Monday, July 17th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.36.

AmerisourceBergen Profile

AmerisourceBergen Corporation sources and distributes pharmaceutical products. Its U.S. Healthcare Solutions segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to 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.