CreativeOne Wealth LLC boosted its holdings in AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 14.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,347 shares of the company’s stock after purchasing an additional 1,036 shares during the quarter. CreativeOne Wealth LLC’s holdings in AmerisourceBergen were worth $1,130,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in ABC. Czech National Bank acquired a new position in AmerisourceBergen in the 3rd quarter valued at $2,445,000. Salem Investment Counselors Inc. lifted its holdings in shares of AmerisourceBergen by 716.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,225 shares of the company’s stock worth $173,000 after acquiring an additional 1,075 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of AmerisourceBergen by 2.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 143,276 shares of the company’s stock worth $19,390,000 after acquiring an additional 3,100 shares in the last quarter. State of Alaska Department of Revenue increased its stake in AmerisourceBergen by 10.4% in the third quarter. State of Alaska Department of Revenue now owns 38,076 shares of the company’s stock valued at $5,152,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Corient Capital Partners LLC raised its position in AmerisourceBergen by 11.1% during the second quarter. Corient Capital Partners LLC now owns 3,832 shares of the company’s stock valued at $542,000 after purchasing an additional 383 shares in the last quarter. 84.79% of the stock is owned by institutional investors.
Insider Buying and Selling at AmerisourceBergen
In other news, CAO Lazarus Krikorian sold 2,218 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $169.24, for a total transaction of $375,374.32. Following the completion of the transaction, the chief accounting officer now owns 20,007 shares in the company, valued at approximately $3,385,984.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Gina Clark sold 1,924 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $156.22, for a total value of $300,567.28. Following the sale, the executive vice president now directly owns 26,733 shares of the company’s stock, valued at $4,176,229.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lazarus Krikorian sold 2,218 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $169.24, for a total transaction of $375,374.32. Following the completion of the transaction, the chief accounting officer now owns 20,007 shares of the company’s stock, valued at $3,385,984.68. The disclosure for this sale can be found here. Insiders have sold a total of 20,352 shares of company stock worth $3,290,605 over the last ninety days. 20.10% of the stock is currently owned by company insiders.
AmerisourceBergen Stock Performance
AmerisourceBergen (NYSE:ABC – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. AmerisourceBergen had a net margin of 0.72% and a return on equity of 597.57%. The business had revenue of $62.85 billion during the quarter, compared to the consensus estimate of $62.77 billion. During the same quarter last year, the company posted $2.58 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that AmerisourceBergen Co. will post 11.61 EPS for the current fiscal year.
AmerisourceBergen Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, February 27th. Shareholders of record on Friday, February 10th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, February 9th. AmerisourceBergen’s dividend payout ratio is currently 23.54%.
Analysts Set New Price Targets
A number of research firms have recently commented on ABC. Robert W. Baird boosted their price target on AmerisourceBergen from $199.00 to $201.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. TheStreet downgraded AmerisourceBergen from a “b-” rating to a “c” rating in a research note on Monday, March 6th. Evercore ISI reaffirmed an “outperform” rating and set a $185.00 target price on shares of AmerisourceBergen in a research report on Tuesday, January 31st. Credit Suisse Group boosted their price target on shares of AmerisourceBergen from $175.00 to $182.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 22nd. Finally, StockNews.com raised AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 20th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.08.
AmerisourceBergen Corp. engages in the provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, and long-term care and alternate site pharmacies.
- Get a free copy of the StockNews.com research report on AmerisourceBergen (ABC)
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