MUFG Americas Holdings Corp Grows Holdings in AmerisourceBergen Co. (NYSE:ABC)

MUFG Americas Holdings Corp lifted its holdings in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 16.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,043 shares of the company’s stock after buying an additional 144 shares during the quarter. MUFG Americas Holdings Corp’s holdings in AmerisourceBergen were worth $161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its position in shares of AmerisourceBergen by 133.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock worth $32,000 after buying an additional 120 shares during the period. Cassady Schiller Wealth Management LLC purchased a new position in AmerisourceBergen in the fourth quarter worth about $33,000. Johnson Financial Group Inc. bought a new position in shares of AmerisourceBergen in the fourth quarter worth approximately $38,000. Quent Capital LLC purchased a new stake in shares of AmerisourceBergen during the fourth quarter valued at approximately $38,000. Finally, Advocacy Wealth Management Services LLC increased its position in shares of AmerisourceBergen by 58.4% during the first quarter. Advocacy Wealth Management Services LLC now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 94 shares in the last quarter. 64.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AmerisourceBergen

In related news, CAO Lazarus Krikorian sold 4,895 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $160.00, for a total transaction of $783,200.00. Following the completion of the transaction, the chief accounting officer now owns 14,079 shares in the company, valued at approximately $2,252,640. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Steven H. Collis sold 11,480 shares of the business’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $141.22, for a total transaction of $1,621,205.60. Following the completion of the transaction, the chief executive officer now owns 205,178 shares in the company, valued at approximately $28,975,237.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lazarus Krikorian sold 4,895 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $160.00, for a total value of $783,200.00. Following the transaction, the chief accounting officer now owns 14,079 shares of the company’s stock, valued at approximately $2,252,640. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,027,855 shares of company stock worth $904,038,584. 28.40% of the stock is currently owned by company insiders.

AmerisourceBergen Trading Up 0.2 %

Shares of ABC stock opened at $139.27 on Friday. AmerisourceBergen Co. has a 1 year low of $113.68 and a 1 year high of $167.19. The firm has a fifty day moving average price of $144.15 and a 200-day moving average price of $147.35. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.92 and a quick ratio of 0.56. The company has a market cap of $29.17 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.56 and a beta of 0.48.

AmerisourceBergen (NYSE:ABCGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.56 by $0.06. The business had revenue of $60.06 billion for the quarter, compared to analysts’ expectations of $59.03 billion. AmerisourceBergen had a net margin of 0.78% and a return on equity of 350.60%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.16 EPS. As a group, equities analysts predict that AmerisourceBergen Co. will post 10.98 earnings per share for the current year.

AmerisourceBergen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be issued a $0.46 dividend. The ex-dividend date is Friday, August 12th. This represents a $1.84 annualized dividend and a dividend yield of 1.32%. AmerisourceBergen’s payout ratio is 21.10%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ABC. UBS Group boosted their price objective on shares of AmerisourceBergen from $144.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, June 13th. Deutsche Bank Aktiengesellschaft upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $167.00 to $178.00 in a report on Tuesday, June 7th. Argus boosted their price objective on shares of AmerisourceBergen from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Robert W. Baird boosted their price objective on shares of AmerisourceBergen from $179.00 to $187.00 in a report on Thursday, May 5th. Finally, Cowen decreased their target price on shares of AmerisourceBergen from $171.00 to $170.00 and set an “outperform” rating for the company in a research note on Thursday, June 9th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.45.

AmerisourceBergen Company Profile

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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, 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 alternate site pharmacies, and other customers.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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