AmerisourceBergen Co. (NYSE:ABC) Stock Position Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in shares of AmerisourceBergen Co. (NYSE:ABCGet Rating) by 55.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,828 shares of the company’s stock after acquiring an additional 652 shares during the quarter. Advisors Asset Management Inc.’s holdings in AmerisourceBergen were worth $259,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Dupont Capital Management Corp boosted its position in shares of AmerisourceBergen by 58.9% in the second quarter. Dupont Capital Management Corp now owns 475 shares of the company’s stock worth $67,000 after buying an additional 176 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of AmerisourceBergen by 5.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 85,208 shares of the company’s stock worth $12,055,000 after buying an additional 4,692 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of AmerisourceBergen by 1.9% in the second quarter. Exchange Traded Concepts LLC now owns 4,435 shares of the company’s stock worth $627,000 after buying an additional 83 shares during the period. 180 Wealth Advisors LLC boosted its position in shares of AmerisourceBergen by 10.4% in the second quarter. 180 Wealth Advisors LLC now owns 2,014 shares of the company’s stock worth $288,000 after buying an additional 190 shares during the period. Finally, Hazlett Burt & Watson Inc. acquired a new stake in shares of AmerisourceBergen in the first quarter worth $94,000. 64.17% of the stock is owned by institutional investors.

Insider Transactions at AmerisourceBergen

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 13,234,153 shares of AmerisourceBergen stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $154.60, for a total value of $2,046,000,053.80. Following the transaction, the insider now directly owns 39,629,714 shares in the company, valued at $6,126,753,784.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 13,234,153 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $154.60, for a total transaction of $2,046,000,053.80. Following the transaction, the insider now directly owns 39,629,714 shares in the company, valued at $6,126,753,784.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert P. Mauch sold 21,802 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $160.00, for a total value of $3,488,320.00. Following the transaction, the chief operating officer now owns 20,197 shares in the company, valued at $3,231,520. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,278,915 shares of company stock worth $2,052,750,071. Company insiders own 28.40% of the company’s stock.

AmerisourceBergen Price Performance

NYSE ABC opened at $162.00 on Monday. AmerisourceBergen Co. has a fifty-two week low of $113.68 and a fifty-two week high of $167.29. The stock’s 50-day moving average is $146.83 and its two-hundred day moving average is $146.92. The company has a debt-to-equity ratio of 64.99, a current ratio of 0.91 and a quick ratio of 0.55. The firm has a market cap of $33.32 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 1.72 and a beta of 0.55.

AmerisourceBergen (NYSE:ABCGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.02. The business had revenue of $61.17 billion for the quarter, compared to analyst estimates of $60.56 billion. AmerisourceBergen had a return on equity of 444.46% and a net margin of 0.71%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.39 earnings per share. On average, analysts anticipate that AmerisourceBergen Co. will post 11.5 earnings per share for the current fiscal year.

AmerisourceBergen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Monday, November 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.20%. AmerisourceBergen’s payout ratio is presently 24.13%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Cowen decreased their target price on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating for the company in a research report on Tuesday, October 18th. Bank Of America (Bofa) raised AmerisourceBergen to a “buy” rating in a research report on Tuesday, October 11th. Robert W. Baird lifted their price objective on AmerisourceBergen from $188.00 to $195.00 in a research report on Friday, November 4th. Credit Suisse Group reduced their price objective on AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Thursday, August 4th. Finally, StockNews.com began coverage on AmerisourceBergen in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.67.

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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