4,069 Shares in AmerisourceBergen (ABC) Acquired by Lake Street Advisors Group LLC
Lake Street Advisors Group LLC acquired a new position in shares of AmerisourceBergen (NYSE:ABC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,069 shares of the company’s stock, valued at approximately $374,000.
Several other large investors also recently modified their holdings of ABC. JPMorgan Chase & Co. lifted its position in shares of AmerisourceBergen by 107.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock worth $434,385,000 after buying an additional 2,776,287 shares during the last quarter. Vulcan Value Partners LLC lifted its position in shares of AmerisourceBergen by 29.4% during the 4th quarter. Vulcan Value Partners LLC now owns 7,530,523 shares of the company’s stock worth $691,452,000 after buying an additional 1,710,816 shares during the last quarter. Harding Loevner LP lifted its position in shares of AmerisourceBergen by 89.6% during the 3rd quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock worth $134,939,000 after buying an additional 1,496,761 shares during the last quarter. Millennium Management LLC lifted its position in shares of AmerisourceBergen by 429.2% during the 4th quarter. Millennium Management LLC now owns 1,507,690 shares of the company’s stock worth $138,436,000 after buying an additional 1,222,806 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of AmerisourceBergen during the 3rd quarter worth approximately $75,681,000. Institutional investors and hedge funds own 67.30% of the company’s stock.
AmerisourceBergen stock opened at $89.50 on Thursday. 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 stock has a market cap of $19,592.28, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. AmerisourceBergen has a 12 month low of $71.90 and a 12 month high of $106.27.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 5th. Shareholders of record on Tuesday, February 20th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.52 annualized dividend and a yield of 1.70%. AmerisourceBergen’s dividend payout ratio is currently 32.76%.
In other news, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $93.40, for a total transaction of $1,083,440.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dale Danilewitz sold 3,121 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $92.12, for a total transaction of $287,506.52. The disclosure for this sale can be found here. Insiders sold a total of 156,809 shares of company stock worth $14,988,589 over the last three months. 27.30% of the stock is currently owned by corporate insiders.
Several research firms recently commented on ABC. Zacks Investment Research downgraded shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays began coverage on shares of AmerisourceBergen in a research report on Thursday, March 8th. They issued an “equal weight” rating and a $104.00 price target for the company. Argus upped their price target on shares of AmerisourceBergen from $93.96 to $115.00 and gave the company a “buy” rating in a research report on Monday, March 5th. Cowen reiterated a “buy” rating and issued a $108.00 price target on shares of AmerisourceBergen in a research report on Tuesday, February 27th. Finally, Bank of America began coverage on shares of AmerisourceBergen in a research report on Tuesday, February 27th. They issued a “buy” rating and a $111.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. AmerisourceBergen presently has an average rating of “Buy” and an average price target of $103.34.
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AmerisourceBergen Company Profile
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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