Leeward Investments LLC MA acquired a new position in AmerisourceBergen Co. (NYSE:ABC – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 60,994 shares of the company’s stock, valued at approximately $9,436,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABC. Checchi Capital Advisers LLC grew its position in shares of AmerisourceBergen by 13.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,067 shares of the company’s stock worth $320,000 after buying an additional 252 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of AmerisourceBergen by 6.3% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 80,516 shares of the company’s stock valued at $12,457,000 after purchasing an additional 4,749 shares during the period. M&T Bank Corp grew its position in shares of AmerisourceBergen by 11.9% in the 1st quarter. M&T Bank Corp now owns 11,506 shares of the company’s stock valued at $1,781,000 after purchasing an additional 1,225 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of AmerisourceBergen in the 1st quarter valued at approximately $2,786,000. Finally, TRUE Private Wealth Advisors acquired a new position in shares of AmerisourceBergen in the 1st quarter valued at approximately $267,000. 64.17% of the stock is currently owned by institutional investors and hedge funds.
AmerisourceBergen Stock Performance
ABC opened at $141.31 on Friday. The firm has a market cap of $29.60 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.55 and a beta of 0.48. AmerisourceBergen Co. has a 52-week low of $113.68 and a 52-week high of $167.19. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.56 and a current ratio of 0.92. The business’s fifty day moving average is $143.84 and its 200-day moving average is $147.38.
AmerisourceBergen Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Monday, August 15th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, August 12th. This represents a $1.84 annualized dividend and a dividend yield of 1.30%. AmerisourceBergen’s dividend payout ratio is currently 21.10%.
Analysts Set New Price Targets
Several brokerages recently issued reports on ABC. UBS Group boosted their price objective on AmerisourceBergen from $144.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, June 13th. Credit Suisse Group decreased their price objective on AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday. Argus boosted their target price on AmerisourceBergen from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and boosted their target price for the company from $167.00 to $178.00 in a research note on Tuesday, June 7th. Finally, Barclays upgraded AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $182.00 in a research note on Thursday, May 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.45.
Insider Buying and Selling
In related news, CAO Lazarus Krikorian sold 4,895 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $160.00, for a total transaction of $783,200.00. Following the completion of the sale, the chief accounting officer now directly owns 14,079 shares in the company, valued at approximately $2,252,640. The sale was disclosed in a filing with the SEC, which is available through this link. In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of the stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $141.22, for a total value of $1,621,205.60. Following the completion of the transaction, the chief executive officer now directly owns 205,178 shares in the company, valued at $28,975,237.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lazarus Krikorian sold 4,895 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $160.00, for a total value of $783,200.00. Following the completion of the transaction, the chief accounting officer now owns 14,079 shares of the company’s stock, valued at $2,252,640. The disclosure for this sale can be found here. Insiders sold a total of 6,027,855 shares of company stock worth $904,038,584 in the last ninety days. 28.40% of the stock is owned by insiders.
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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