EverSource Wealth Advisors LLC Increases Stake in AmerisourceBergen Co. (NYSE:ABC)

EverSource Wealth Advisors LLC raised its position in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 1,078.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 224 shares of the company’s stock after purchasing an additional 205 shares during the period. EverSource Wealth Advisors LLC’s holdings in AmerisourceBergen were worth $35,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of AmerisourceBergen by 26.2% during the 1st quarter. BlackRock Inc. now owns 16,455,417 shares of the company’s stock worth $2,545,819,000 after acquiring an additional 3,419,393 shares during the period. Norges Bank purchased a new position in shares of AmerisourceBergen during the 4th quarter worth $188,449,000. Vanguard Group Inc. raised its holdings in shares of AmerisourceBergen by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company’s stock worth $2,848,446,000 after acquiring an additional 1,269,147 shares during the period. Invesco Ltd. raised its holdings in shares of AmerisourceBergen by 42.3% during the 1st quarter. Invesco Ltd. now owns 2,079,491 shares of the company’s stock worth $321,717,000 after acquiring an additional 618,248 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of AmerisourceBergen by 104.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 897,803 shares of the company’s stock worth $138,899,000 after acquiring an additional 459,018 shares during the period. Hedge funds and other institutional investors own 64.17% of the company’s stock.

Analyst Upgrades and Downgrades

ABC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and boosted their price objective for the company from $167.00 to $178.00 in a report on Tuesday, June 7th. Cowen reduced their price objective on shares of AmerisourceBergen from $171.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday, June 9th. StockNews.com upgraded shares of AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 9th. Barclays upgraded shares of AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $182.00 in a report on Thursday, May 26th. Finally, Credit Suisse Group dropped their target price on AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $173.55.

Insider Buying and Selling

In related news, CEO Steven H. Collis sold 11,480 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $142.40, for a total transaction of $1,634,752.00. Following the completion of the sale, the chief executive officer now owns 205,178 shares in the company, valued at $29,217,347.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 34,440 shares of company stock worth $4,924,920 over the last 90 days. 28.40% of the stock is owned by insiders.

AmerisourceBergen Stock Performance

Shares of AmerisourceBergen stock opened at $140.55 on Monday. AmerisourceBergen Co. has a one year low of $113.68 and a one year high of $167.19. The company has a market cap of $29.13 billion, a PE ratio of 16.12, a P/E/G ratio of 1.56 and a beta of 0.46. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.55 and a current ratio of 0.92. The business has a 50-day simple moving average of $145.08 and a 200-day simple moving average of $149.29.

AmerisourceBergen (NYSE:ABCGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.06. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The business had revenue of $60.06 billion during the quarter, compared to the consensus estimate of $59.03 billion. During the same period in the previous year, the company posted $2.16 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that AmerisourceBergen Co. will post 11 EPS for the current fiscal year.

AmerisourceBergen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, August 12th. AmerisourceBergen’s dividend payout ratio is presently 21.10%.

AmerisourceBergen 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.

See Also

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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