Spire Wealth Management cut its holdings in AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 31.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,570 shares of the company’s stock after selling 2,072 shares during the quarter. Spire Wealth Management’s holdings in AmerisourceBergen were worth $707,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of AmerisourceBergen by 18.3% in the fourth quarter. BlackRock Inc. now owns 13,036,024 shares of the company’s stock valued at $1,732,356,000 after buying an additional 2,016,216 shares in the last quarter. State Street Corp increased its position in AmerisourceBergen by 5.2% in the fourth quarter. State Street Corp now owns 6,807,567 shares of the company’s stock worth $904,658,000 after purchasing an additional 338,819 shares during the period. Geode Capital Management LLC increased its position in AmerisourceBergen by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 2,735,360 shares of the company’s stock worth $362,726,000 after purchasing an additional 113,699 shares during the period. Northern Trust Corp increased its position in AmerisourceBergen by 0.8% in the fourth quarter. Northern Trust Corp now owns 1,960,206 shares of the company’s stock worth $260,492,000 after purchasing an additional 15,039 shares during the period. Finally, Invesco Ltd. increased its position in AmerisourceBergen by 10.9% in the fourth quarter. Invesco Ltd. now owns 1,461,243 shares of the company’s stock worth $194,185,000 after purchasing an additional 143,839 shares during the period. Institutional investors own 64.17% of the company’s stock.
NYSE ABC opened at $141.48 on Friday. The stock has a market capitalization of $29.63 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.68 and a beta of 0.45. The stock’s 50 day moving average price is $150.48 and its two-hundred day moving average price is $145.31. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.56 and a current ratio of 0.92. AmerisourceBergen Co. has a 52 week low of $111.34 and a 52 week high of $167.19.
AmerisourceBergen (NYSE:ABC – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $2.99 by $0.23. The firm had revenue of $57.72 billion for the quarter, compared to analysts’ expectations of $57.26 billion. AmerisourceBergen had a return on equity of 349.46% and a net margin of 0.75%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 EPS. On average, equities research analysts forecast that AmerisourceBergen Co. will post 10.95 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Friday, May 13th. AmerisourceBergen’s payout ratio is 22.44%.
A number of analysts recently commented on ABC shares. Argus lifted their price objective on AmerisourceBergen from $140.00 to $160.00 in a research report on Monday, March 14th. Barclays upgraded AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $182.00 in a research report on Thursday, May 26th. Cowen decreased their target price on AmerisourceBergen from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Thursday, June 9th. Deutsche Bank Aktiengesellschaft upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and boosted their target price for the stock from $167.00 to $178.00 in a research report on Tuesday, June 7th. Finally, StockNews.com upgraded AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.82.
In other news, CEO Steven H. Collis sold 11,480 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 205,178 shares in the company, valued at approximately $28,975,237.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 6,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $150.00, for a total value of $900,000,000.00. Following the sale, the insider now owns 52,854,867 shares in the company, valued at approximately $7,928,230,050. The disclosure for this sale can be found here. Insiders sold a total of 6,027,855 shares of company stock worth $904,265,428 in the last 90 days. Company insiders own 28.80% of the company’s stock.
AmerisourceBergen Profile: (Get Rating)
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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