Ieq Capital LLC Raises Stock Holdings in AmerisourceBergen Co. (NYSE:ABC)

Ieq Capital LLC lifted its holdings in shares of AmerisourceBergen Co. (NYSE:ABCGet Rating) by 99.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,200 shares of the company’s stock after purchasing an additional 5,576 shares during the quarter. Ieq Capital LLC’s holdings in AmerisourceBergen were worth $1,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in AmerisourceBergen by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company’s stock worth $2,848,446,000 after buying an additional 1,269,147 shares during the last quarter. JPMorgan Chase & Co. lifted its position in AmerisourceBergen by 1.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,521,705 shares of the company’s stock worth $1,064,171,000 after buying an additional 115,994 shares during the last quarter. State Street Corp lifted its position in AmerisourceBergen by 1.8% in the 1st quarter. State Street Corp now owns 6,931,262 shares of the company’s stock worth $1,072,336,000 after buying an additional 123,695 shares during the last quarter. FMR LLC lifted its position in AmerisourceBergen by 10.2% in the 2nd quarter. FMR LLC now owns 5,664,668 shares of the company’s stock worth $801,436,000 after buying an additional 523,003 shares during the last quarter. Finally, Invesco Ltd. lifted its position in AmerisourceBergen by 42.3% in the 1st quarter. Invesco Ltd. now owns 2,079,491 shares of the company’s stock worth $321,717,000 after buying an additional 618,248 shares during the last quarter. Hedge funds and other institutional investors own 84.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ABC shares. Cowen dropped their target price on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating for the company in a research report on Tuesday, October 18th. Robert W. Baird boosted their target price on AmerisourceBergen from $195.00 to $199.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 11th. Bank Of America (Bofa) upgraded AmerisourceBergen to a “buy” rating in a research report on Tuesday, October 11th. Cowen lowered their price objective on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating for the company in a research report on Tuesday, October 18th. Finally, Credit Suisse Group boosted their price objective on AmerisourceBergen from $175.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, November 22nd. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $176.25.

Insider Activity

In other news, CAO Lazarus Krikorian sold 2,218 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $169.24, for a total transaction of $375,374.32. Following the transaction, the chief accounting officer now directly owns 20,007 shares of the company’s stock, valued at $3,385,984.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gina Clark sold 392 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $166.30, for a total value of $65,189.60. Following the sale, the executive vice president now directly owns 28,657 shares of the company’s stock, valued at $4,765,659.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Lazarus Krikorian sold 2,218 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $169.24, for a total value of $375,374.32. Following the completion of the sale, the chief accounting officer now directly owns 20,007 shares in the company, valued at $3,385,984.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,279,532 shares of company stock valued at $3,043,889,702. Company insiders own 28.80% of the company’s stock.

AmerisourceBergen Price Performance

ABC opened at $161.43 on Wednesday. The company has a debt-to-equity ratio of 64.99, a quick ratio of 0.55 and a current ratio of 0.91. AmerisourceBergen Co. has a 52-week low of $127.98 and a 52-week high of $174.63. The stock has a market capitalization of $33.20 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.63 and a beta of 0.55. The stock’s 50 day moving average price is $165.96 and its 200-day moving average price is $152.87.

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

AmerisourceBergen Increases Dividend

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

AmerisourceBergen Profile

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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.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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