Mawer Investment Management Ltd. Cuts Stake in AmerisourceBergen Co. (NYSE:ABC)


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Mawer Investment Management Ltd. cut its stake in AmerisourceBergen Co. (NYSE:ABC) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,863 shares of the company’s stock after selling 20,005 shares during the quarter. Mawer Investment Management Ltd. owned about 0.14% of AmerisourceBergen worth $28,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Campbell & CO Investment Adviser LLC grew its stake in AmerisourceBergen by 127.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 6,483 shares of the company’s stock worth $634,000 after purchasing an additional 3,632 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of AmerisourceBergen by 7.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,255 shares of the company’s stock valued at $4,326,000 after buying an additional 2,890 shares in the last quarter. ProShare Advisors LLC grew its position in AmerisourceBergen by 0.9% during the 4th quarter. ProShare Advisors LLC now owns 30,295 shares of the company’s stock worth $2,962,000 after purchasing an additional 280 shares in the last quarter. Profund Advisors LLC grew its position in AmerisourceBergen by 27.4% during the 4th quarter. Profund Advisors LLC now owns 3,622 shares of the company’s stock worth $354,000 after purchasing an additional 780 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its position in AmerisourceBergen by 1.3% during the 4th quarter. Great Lakes Advisors LLC now owns 19,948 shares of the company’s stock worth $1,950,000 after purchasing an additional 247 shares in the last quarter. 63.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of ABC traded down $0.47 during trading hours on Tuesday, reaching $105.65. 9,382 shares of the company traded hands, compared to its average volume of 1,345,839. The stock’s fifty day moving average is $106.32 and its 200 day moving average is $101.00. The stock has a market cap of $21.63 billion, a P/E ratio of -6.32, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.60 and a current ratio of 0.98. AmerisourceBergen Co. has a 1-year low of $72.06 and a 1-year high of $112.88.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Wednesday, February 3rd. The company reported $2.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.24. The business had revenue of $52.50 billion during the quarter, compared to analyst estimates of $50.49 billion. AmerisourceBergen had a negative net margin of 1.80% and a positive return on equity of 65.93%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. On average, equities research analysts predict that AmerisourceBergen Co. will post 8.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 12th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, February 11th. AmerisourceBergen’s dividend payout ratio is currently 22.28%.

Several equities analysts have recently commented on ABC shares. Morgan Stanley boosted their price target on shares of AmerisourceBergen from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, February 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AmerisourceBergen from $111.00 to $115.00 and gave the stock a “hold” rating in a report on Thursday, January 7th. Credit Suisse Group upped their price objective on shares of AmerisourceBergen from $123.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, February 5th. Argus boosted their target price on shares of AmerisourceBergen from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, January 21st. They noted that the move was a valuation call. Finally, Cowen boosted their target price on shares of AmerisourceBergen from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. AmerisourceBergen currently has an average rating of “Buy” and a consensus price target of $120.10.

In related news, EVP Robert P. Mauch sold 16,561 shares of the stock in a transaction dated Wednesday, January 6th. The shares were sold at an average price of $105.06, for a total value of $1,739,898.66. Following the completion of the transaction, the executive vice president now owns 38,363 shares of the company’s stock, valued at $4,030,416.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert P. Mauch sold 77,560 shares of the company’s stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $98.02, for a total transaction of $7,602,431.20. Following the sale, the executive vice president now directly owns 99,362 shares in the company, valued at $9,739,463.24. The disclosure for this sale can be found here. 28.30% of the stock is currently owned by corporate insiders.

About AmerisourceBergen

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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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