Los Angeles Capital Management LLC Raises Position in AmerisourceBergen Co. (NYSE:ABC)

Los Angeles Capital Management LLC boosted its stake in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,594 shares of the company’s stock after buying an additional 5,788 shares during the period. Los Angeles Capital Management LLC’s holdings in AmerisourceBergen were worth $16,027,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ABC. Allspring Global Investments Holdings LLC purchased a new position in shares of AmerisourceBergen during the fourth quarter valued at approximately $15,752,000. Yousif Capital Management LLC purchased a new position in shares of AmerisourceBergen during the fourth quarter valued at approximately $3,598,000. D.A. Davidson & CO. purchased a new position in shares of AmerisourceBergen during the fourth quarter valued at approximately $418,000. Xponance Inc. lifted its holdings in shares of AmerisourceBergen by 31.5% during the fourth quarter. Xponance Inc. now owns 9,952 shares of the company’s stock valued at $1,323,000 after purchasing an additional 2,382 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in shares of AmerisourceBergen by 9.6% during the fourth quarter. Raymond James Trust N.A. now owns 3,999 shares of the company’s stock valued at $531,000 after purchasing an additional 349 shares during the last quarter. 64.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABC has been the subject of several analyst reports. Credit Suisse Group reduced their price target on shares of AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday. Robert W. Baird boosted their price objective on shares of AmerisourceBergen from $179.00 to $187.00 in a research report on Thursday, May 5th. UBS Group boosted their price objective on shares of AmerisourceBergen from $144.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, June 13th. Deutsche Bank Aktiengesellschaft upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and lifted their target price for the company from $167.00 to $178.00 in a research note on Tuesday, June 7th. Finally, Argus lifted their target price on shares of AmerisourceBergen from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 20th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.45.

AmerisourceBergen Stock Performance

NYSE ABC opened at $141.31 on Friday. The stock has a market capitalization of $29.60 billion, a PE ratio of 16.21, a P/E/G ratio of 1.55 and a beta of 0.48. The business has a 50 day simple moving average of $143.84 and a two-hundred day simple moving average of $147.38. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.92 and a quick ratio of 0.56. AmerisourceBergen Co. has a 1-year low of $113.68 and a 1-year high of $167.19.

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

AmerisourceBergen Announces Dividend

The business also recently announced 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, August 12th. AmerisourceBergen’s dividend payout ratio (DPR) is 21.10%.

Insider Transactions at AmerisourceBergen

In other news, CEO Steven H. Collis sold 11,480 shares of AmerisourceBergen stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $141.22, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Lazarus Krikorian sold 4,895 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $160.00, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven H. Collis sold 11,480 shares of AmerisourceBergen stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $141.22, for a total value of $1,621,205.60. Following the completion of the transaction, the chief executive officer now owns 205,178 shares of the company’s stock, valued at approximately $28,975,237.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,027,855 shares of company stock worth $904,038,584. 28.40% of the stock is currently owned by company insiders.

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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