Mirae Asset Global Investments Co. Ltd. raised its position in shares of AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 43.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 44,421 shares of the company’s stock after purchasing an additional 13,438 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AmerisourceBergen were worth $7,361,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of ABC. Principal Financial Group Inc. lifted its position in AmerisourceBergen by 5.0% during the 4th quarter. Principal Financial Group Inc. now owns 281,056 shares of the company’s stock valued at $46,574,000 after acquiring an additional 13,361 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of AmerisourceBergen by 2.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 143,276 shares of the company’s stock worth $19,390,000 after purchasing an additional 3,100 shares in the last quarter. Signaturefd LLC grew its stake in shares of AmerisourceBergen by 7.8% in the 4th quarter. Signaturefd LLC now owns 2,082 shares of the company’s stock worth $345,000 after buying an additional 150 shares during the last quarter. Peterson Financial Group Inc. bought a new position in AmerisourceBergen during the 4th quarter valued at approximately $285,000. Finally, Threadgill Financial LLC purchased a new position in AmerisourceBergen during the fourth quarter valued at $537,000. Institutional investors own 84.79% of the company’s stock.
AmerisourceBergen Stock Down 0.8 %
ABC opened at $173.39 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.89 and a debt-to-equity ratio of 9.13. The firm has a 50 day moving average price of $163.95 and a 200-day moving average price of $162.92. AmerisourceBergen Co. has a twelve month low of $135.14 and a twelve month high of $176.62. The stock has a market capitalization of $35.11 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.66 and a beta of 0.52.
AmerisourceBergen Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Friday, May 12th will be issued a dividend of $0.485 per share. The ex-dividend date is Thursday, May 11th. This represents a $1.94 dividend on an annualized basis and a yield of 1.12%. AmerisourceBergen’s dividend payout ratio is currently 24.94%.
Insider Buying and Selling at AmerisourceBergen
In other AmerisourceBergen news, EVP Gina Clark sold 1,924 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $156.22, for a total value of $300,567.28. Following the completion of the transaction, the executive vice president now directly owns 26,733 shares in the company, valued at $4,176,229.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AmerisourceBergen news, major shareholder Walgreens Boots Alliance, Inc. sold 292,792 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $170.77, for a total value of $50,000,089.84. Following the completion of the transaction, the insider now directly owns 33,366,388 shares in the company, valued at $5,697,978,078.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gina Clark sold 1,924 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $156.22, for a total transaction of $300,567.28. Following the completion of the transaction, the executive vice president now owns 26,733 shares of the company’s stock, valued at $4,176,229.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,213 shares of company stock valued at $55,412,200. Insiders own 20.10% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on AmerisourceBergen from $174.00 to $182.00 in a report on Wednesday, May 3rd. StockNews.com assumed coverage on shares of AmerisourceBergen in a report on Thursday. They issued a “strong-buy” rating for the company. Mizuho lifted their target price on shares of AmerisourceBergen from $170.00 to $174.00 in a report on Wednesday, May 3rd. TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b+” rating in a report on Tuesday, May 2nd. Finally, UBS Group lifted their target price on shares of AmerisourceBergen from $184.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.62.
AmerisourceBergen Company Profile
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.
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