Elkfork Partners LLC acquired a new position in AmerisourceBergen (NYSE:ABC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,628 shares of the company’s stock, valued at approximately $4,373,000.
A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its position in AmerisourceBergen by 5.8% in the fourth quarter. BlackRock Inc. now owns 12,384,803 shares of the company’s stock worth $1,137,171,000 after acquiring an additional 679,417 shares in the last quarter. Vulcan Value Partners LLC raised its position in AmerisourceBergen by 29.4% in the fourth quarter. Vulcan Value Partners LLC now owns 7,530,523 shares of the company’s stock worth $691,452,000 after acquiring an additional 1,710,816 shares in the last quarter. JPMorgan Chase & Co. raised its position in AmerisourceBergen by 107.3% in the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock worth $434,385,000 after acquiring an additional 2,776,287 shares in the last quarter. Wells Fargo & Company MN raised its position in AmerisourceBergen by 11.4% in the third quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock worth $308,358,000 after acquiring an additional 381,936 shares in the last quarter. Finally, Harding Loevner LP raised its position in AmerisourceBergen by 89.6% in the third quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock worth $134,939,000 after acquiring an additional 1,496,761 shares in the last quarter. Hedge funds and other institutional investors own 67.30% of the company’s stock.
AmerisourceBergen stock opened at $84.03 on Friday. AmerisourceBergen has a 52-week low of $71.90 and a 52-week high of $106.27. The firm has a market capitalization of $18,458.79, a price-to-earnings ratio of 13.82, a PEG ratio of 1.26 and a beta of 1.03. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.95 and a quick ratio of 0.50.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 5th. Investors of record on Tuesday, February 20th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, February 16th. AmerisourceBergen’s payout ratio is currently 32.76%.
ABC has been the subject of several research analyst reports. Zacks Investment Research cut AmerisourceBergen from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Argus increased their price objective on AmerisourceBergen from $93.96 to $115.00 and gave the stock a “buy” rating in a research report on Monday, March 5th. Goldman Sachs upgraded AmerisourceBergen from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. Bank of America initiated coverage on AmerisourceBergen in a research report on Tuesday, February 27th. They issued a “buy” rating and a $111.00 price objective for the company. Finally, Deutsche Bank initiated coverage on AmerisourceBergen in a research report on Monday, December 4th. They issued a “buy” rating and a $97.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen presently has an average rating of “Buy” and an average price target of $103.34.
In related news, insider Dale Danilewitz sold 21,500 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $97.30, for a total transaction of $2,091,950.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peyton R. Howell sold 3,000 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $93.78, for a total value of $281,340.00. Following the sale, the insider now directly owns 49,189 shares in the company, valued at approximately $4,612,944.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,809 shares of company stock worth $14,988,589. Corporate insiders own 27.30% of the company’s stock.
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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, outsourced compounded sterile preparations, 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 other alternate site pharmacies, and other customers.
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