State of Alaska Department of Revenue increased its position in shares of AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 23.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,476 shares of the company’s stock after buying an additional 6,600 shares during the period. State of Alaska Department of Revenue’s holdings in AmerisourceBergen were worth $4,877,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Herold Advisors Inc. purchased a new stake in AmerisourceBergen during the 1st quarter worth $31,000. Massmutual Trust Co. FSB ADV increased its stake in AmerisourceBergen by 133.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock worth $32,000 after buying an additional 120 shares during the period. EverSource Wealth Advisors LLC increased its stake in AmerisourceBergen by 1,078.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $35,000 after buying an additional 205 shares during the period. Advocacy Wealth Management Services LLC increased its stake in AmerisourceBergen by 58.4% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 255 shares of the company’s stock worth $40,000 after buying an additional 94 shares during the period. Finally, FinTrust Capital Advisors LLC increased its stake in AmerisourceBergen by 168.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 268 shares of the company’s stock worth $41,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 64.17% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and boosted their target price for the stock from $167.00 to $178.00 in a research report on Tuesday, June 7th. Barclays raised shares of AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $182.00 in a research report on Thursday, May 26th. Cowen dropped their target price on shares of AmerisourceBergen from $171.00 to $170.00 and set an “outperform” rating for the company in a research report on Thursday, June 9th. Cowen lowered their price objective on shares of AmerisourceBergen from $171.00 to $170.00 in a research report on Thursday, June 9th. Finally, 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. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.55.
Insider Transactions at AmerisourceBergen
AmerisourceBergen Trading Down 1.0 %
AmerisourceBergen stock opened at $138.90 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt-to-equity ratio of 8.96. The firm has a 50-day moving average price of $145.07 and a two-hundred day moving average price of $149.30. The firm has a market capitalization of $28.79 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.56 and a beta of 0.46. AmerisourceBergen Co. has a 52-week low of $113.68 and a 52-week high of $167.19.
AmerisourceBergen (NYSE:ABC – Get Rating) last posted its earnings results on Wednesday, August 3rd. The company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.06. The firm had revenue of $60.06 billion during the quarter, compared to analyst estimates of $59.03 billion. AmerisourceBergen had a net margin of 0.78% and a return on equity of 350.60%. AmerisourceBergen’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 EPS. Sell-side analysts expect that AmerisourceBergen Co. will post 11 earnings per share for the current year.
AmerisourceBergen Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, August 12th. AmerisourceBergen’s dividend payout ratio is currently 21.10%.
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, 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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