Teacher Retirement System of Texas Boosts Position in AmerisourceBergen Co. (NYSE:ABC)

Teacher Retirement System of Texas raised its stake in shares of AmerisourceBergen Co. (NYSE:ABC) by 242.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 68,286 shares of the company’s stock after purchasing an additional 48,360 shares during the period. Teacher Retirement System of Texas’ holdings in AmerisourceBergen were worth $8,157,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its holdings in AmerisourceBergen by 63.6% during the third quarter. Bogart Wealth LLC now owns 229 shares of the company’s stock valued at $27,000 after purchasing an additional 89 shares during the period. Banque Cantonale Vaudoise bought a new stake in AmerisourceBergen during the second quarter valued at about $32,000. Evermay Wealth Management LLC bought a new stake in AmerisourceBergen during the second quarter valued at about $40,000. Allworth Financial LP bought a new stake in AmerisourceBergen during the third quarter valued at about $47,000. Finally, AdvisorNet Financial Inc bought a new stake in AmerisourceBergen during the third quarter valued at about $48,000. 62.99% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Steven H. Collis sold 24,264 shares of the stock in a transaction that occurred on Tuesday, January 11th. The stock was sold at an average price of $136.07, for a total value of $3,301,602.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Steven H. Collis sold 11,664 shares of the stock in a transaction that occurred on Tuesday, November 16th. The stock was sold at an average price of $124.66, for a total value of $1,454,034.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,865 shares of company stock worth $20,109,602. Company insiders own 28.40% of the company’s stock.

Several research firms have issued reports on ABC. Scotiabank lowered AmerisourceBergen from an “outperform” rating to a “sector perform” rating in a report on Thursday, January 6th. Deutsche Bank Aktiengesellschaft upped their price objective on AmerisourceBergen from $136.00 to $153.00 and gave the stock a “hold” rating in a research note on Friday, November 12th. Credit Suisse Group upped their price objective on AmerisourceBergen from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, November 8th. TheStreet raised AmerisourceBergen from a “d” rating to an “a-” rating in a research note on Thursday, November 4th. Finally, Barclays upped their price objective on AmerisourceBergen from $135.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $144.75.

Shares of AmerisourceBergen stock opened at $136.20 on Friday. AmerisourceBergen Co. has a 12 month low of $100.71 and a 12 month high of $136.95. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 10.92. The stock has a 50 day moving average of $125.93 and a 200 day moving average of $122.23. The firm has a market cap of $28.35 billion, a PE ratio of 18.43, a PEG ratio of 1.58 and a beta of 0.51.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, November 4th. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.03. AmerisourceBergen had a return on equity of 2,040.08% and a net margin of 0.72%. The business had revenue of $58.90 billion for the quarter, compared to the consensus estimate of $57.05 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, equities research analysts forecast that AmerisourceBergen Co. will post 10.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 29th. Shareholders of record on Monday, November 15th were given a dividend of $0.46 per share. The ex-dividend date was Friday, November 12th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 1.35%. AmerisourceBergen’s dividend payout ratio is 24.90%.

AmerisourceBergen Profile

AmerisourceBergen Corp. engages 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.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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