Moody National Bank Trust Division Takes Position in AmerisourceBergen Co. (NYSE:ABC)

Moody National Bank Trust Division acquired a new stake in shares of AmerisourceBergen Co. (NYSE:ABCGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,616 shares of the company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ABC. Allworth Financial LP increased its position 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 purchasing an additional 87 shares during the last quarter. Koshinski Asset Management Inc. increased its position 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 purchasing an additional 132 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in AmerisourceBergen in the first quarter worth $94,000. Huntington National Bank increased its position in AmerisourceBergen by 3.8% during the first quarter. Huntington National Bank now owns 34,289 shares of the company’s stock valued at $5,305,000 after acquiring an additional 1,260 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in AmerisourceBergen by 11,356.5% during the fourth quarter. Renaissance Technologies LLC now owns 234,400 shares of the company’s stock valued at $31,149,000 after acquiring an additional 232,354 shares during the last quarter. Institutional investors own 64.17% of the company’s stock.

AmerisourceBergen Stock Down 1.0 %

NYSE:ABC opened at $138.90 on Wednesday. AmerisourceBergen Co. has a 1-year low of $113.68 and a 1-year high of $167.19. The company has a 50-day moving average of $145.07 and a 200 day moving average of $149.30. The firm has a market cap of $28.79 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.56 and a beta of 0.46. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.92 and a quick ratio of 0.55.

AmerisourceBergen (NYSE:ABCGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.06. AmerisourceBergen had a net margin of 0.78% and a return on equity of 350.60%. The company had revenue of $60.06 billion during the quarter, compared to analyst estimates of $59.03 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, research analysts anticipate that AmerisourceBergen Co. will post 11 EPS for the current fiscal year.

AmerisourceBergen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 29th. Shareholders 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 dividend on an annualized basis and a yield of 1.32%. AmerisourceBergen’s dividend payout ratio is presently 21.10%.

Insiders Place Their Bets

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of the business’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $142.35, for a total value of $1,634,178.00. Following the completion of the transaction, the chief executive officer now directly owns 205,178 shares in the company, valued at $29,207,088.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 34,440 shares of company stock worth $4,924,920. 28.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABC. StockNews.com upgraded shares of AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 9th. Evercore ISI cut their price objective on shares of AmerisourceBergen to $165.00 in a research report on Friday, June 3rd. Morgan Stanley boosted their price objective on shares of AmerisourceBergen from $175.00 to $176.00 and gave the company an “equal weight” rating in a research report on Monday, August 22nd. Cowen lowered their target price on shares of AmerisourceBergen from $171.00 to $170.00 in a research note on Thursday, June 9th. Finally, Credit Suisse Group lowered their target price on shares of AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. Three research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $173.55.

AmerisourceBergen Company 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.

See Also

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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