M Holdings Securities Inc. Takes Position in AmerisourceBergen Co. (NYSE:ABC)

M Holdings Securities Inc. acquired a new stake in shares of AmerisourceBergen Co. (NYSE:ABCGet Rating) in the first quarter, HoldingsChannel.com reports. The fund acquired 1,647 shares of the company’s stock, valued at approximately $255,000.

A number of other institutional investors have also recently made changes to their positions in ABC. Allworth Financial LP lifted its stake in AmerisourceBergen by 42.4% in the first quarter. Allworth Financial LP now owns 292 shares of the company’s stock worth $45,000 after acquiring an additional 87 shares during the period. Koshinski Asset Management Inc. lifted its stake in AmerisourceBergen by 1.6% in the first quarter. Koshinski Asset Management Inc. now owns 8,199 shares of the company’s stock worth $1,268,000 after acquiring an additional 132 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in AmerisourceBergen in the first quarter worth $94,000. Huntington National Bank lifted its stake in AmerisourceBergen by 3.8% in the first quarter. Huntington National Bank now owns 34,289 shares of the company’s stock worth $5,305,000 after acquiring an additional 1,260 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in AmerisourceBergen by 11,356.5% in the fourth quarter. Renaissance Technologies LLC now owns 234,400 shares of the company’s stock worth $31,149,000 after acquiring an additional 232,354 shares during the period. Hedge funds and other institutional investors own 64.17% of the company’s stock.

Insider Buying and Selling

In related news, CEO Steven H. Collis sold 11,480 shares of AmerisourceBergen stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $144.25, for a total value of $1,655,990.00. Following the completion of the sale, the chief executive officer now directly owns 205,178 shares in the company, valued at approximately $29,596,926.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 34,440 shares of company stock worth $4,924,920. 28.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on ABC shares. Morgan Stanley raised their price target on AmerisourceBergen from $175.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, August 22nd. Credit Suisse Group decreased their price objective on AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and increased their price objective for the stock from $167.00 to $178.00 in a report on Tuesday, June 7th. Argus increased their price objective on AmerisourceBergen from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Finally, StockNews.com upgraded AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AmerisourceBergen presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.55.

AmerisourceBergen Price Performance

Shares of NYSE:ABC opened at $140.55 on Monday. AmerisourceBergen Co. has a 1-year low of $113.68 and a 1-year high of $167.19. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.92 and a quick ratio of 0.55. The business has a fifty day moving average price of $145.08 and a 200-day moving average price of $149.29. The company has a market capitalization of $29.13 billion, a PE ratio of 16.12, a PEG ratio of 1.56 and a beta of 0.46.

AmerisourceBergen (NYSE:ABCGet Rating) last issued 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. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The firm had revenue of $60.06 billion during the quarter, compared to the consensus estimate of $59.03 billion. During the same period last year, the company earned $2.16 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts expect that AmerisourceBergen Co. will post 11 EPS for the current fiscal year.

AmerisourceBergen Announces Dividend

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

About AmerisourceBergen

(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.

Further Reading

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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