Ieq Capital LLC Grows Stake in AmerisourceBergen Co. (NYSE:ABC)

Ieq Capital LLC increased 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in ABC. Vanguard Group Inc. grew its holdings in AmerisourceBergen by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company’s stock valued at $2,848,446,000 after buying an additional 1,269,147 shares in the last quarter. Invesco Ltd. lifted its stake in shares of AmerisourceBergen by 42.3% in the 1st quarter. Invesco Ltd. now owns 2,079,491 shares of the company’s stock valued at $321,717,000 after purchasing an additional 618,248 shares during the last quarter. Amundi lifted its stake in shares of AmerisourceBergen by 83.9% in the 2nd quarter. Amundi now owns 1,283,724 shares of the company’s stock valued at $179,118,000 after purchasing an additional 585,778 shares during the last quarter. FMR LLC lifted its stake in shares of AmerisourceBergen by 10.2% in the 2nd quarter. FMR LLC now owns 5,664,668 shares of the company’s stock valued at $801,436,000 after purchasing an additional 523,003 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of AmerisourceBergen in the 3rd quarter valued at approximately $47,136,000. Hedge funds and other institutional investors own 84.79% of the company’s stock.

AmerisourceBergen Trading Down 0.2 %

Shares of NYSE:ABC opened at $161.43 on Wednesday. AmerisourceBergen Co. has a 12-month low of $127.98 and a 12-month high of $174.63. The business’s fifty day simple moving average is $165.96 and its 200-day simple moving average is $152.87. The company has a market capitalization of $33.20 billion, a PE ratio of 20.08, a P/E/G ratio of 1.63 and a beta of 0.55. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 64.99.

AmerisourceBergen (NYSE:ABCGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported $2.60 earnings per share for the quarter, topping 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 the consensus estimate of $60.56 billion. During the same period in the previous year, the business earned $2.39 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that AmerisourceBergen Co. will post 11.5 earnings per share for the current fiscal year.

AmerisourceBergen Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on ABC. StockNews.com raised AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 20th. Argus raised their price target on AmerisourceBergen from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, January 12th. Cowen decreased their price target on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating for the company in a research note on Tuesday, October 18th. Robert W. Baird raised their price target on AmerisourceBergen from $195.00 to $199.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 11th. Finally, Cowen decreased their price target on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating for the company in a research note on Tuesday, October 18th. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.25.

Insider Buying and Selling

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 13,234,153 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $154.60, for a total transaction of $2,046,000,053.80. Following the transaction, the insider now directly owns 39,629,714 shares in the company, valued at approximately $6,126,753,784.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other AmerisourceBergen news, major shareholder Walgreens Boots Alliance, Inc. sold 13,234,153 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $154.60, for a total transaction of $2,046,000,053.80. Following the sale, the insider now owns 39,629,714 shares in the company, valued at approximately $6,126,753,784.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lazarus Krikorian sold 2,218 shares of the business’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $169.24, for a total value of $375,374.32. Following the sale, the chief accounting officer now owns 20,007 shares in the company, valued at approximately $3,385,984.68. The disclosure for this sale can be found here. Insiders have sold a total of 19,279,532 shares of company stock worth $3,043,889,702 in the last ninety days. 28.80% of the stock is owned by 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.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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