Lpwm LLC Boosts Stock Position in AmerisourceBergen Co. (NYSE:ABC)

Lpwm LLC lifted its holdings in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 4.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,814 shares of the company’s stock after purchasing an additional 108 shares during the quarter. Lpwm LLC’s holdings in AmerisourceBergen were worth $459,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its stake in AmerisourceBergen by 133.3% during the first 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. Gemmer Asset Management LLC purchased a new stake in shares of AmerisourceBergen during the fourth quarter valued at $33,000. Cassady Schiller Wealth Management LLC purchased a new stake in shares of AmerisourceBergen during the fourth quarter valued at $33,000. Johnson Financial Group Inc. purchased a new stake in shares of AmerisourceBergen during the fourth quarter valued at $38,000. Finally, Quent Capital LLC purchased a new stake in shares of AmerisourceBergen during the fourth quarter valued at $38,000. 64.17% of the stock is owned by hedge funds and other institutional investors.

ABC has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of AmerisourceBergen from $178.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, May 27th. Argus lifted their price objective on AmerisourceBergen from $140.00 to $160.00 in a report on Monday, March 14th. Barclays upgraded AmerisourceBergen from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $182.00 in a report on Thursday, May 26th. Evercore ISI decreased their price objective on AmerisourceBergen to $165.00 in a report on Friday, June 3rd. Finally, UBS Group lifted their price objective on AmerisourceBergen from $144.00 to $174.00 and gave the company a “buy” rating in a report on Monday, June 13th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AmerisourceBergen presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.82.

In related news, EVP Gina Clark sold 43,704 shares of the company’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $153.71, for a total value of $6,717,741.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 6,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $150.00, for a total value of $900,000,000.00. Following the completion of the sale, the insider now owns 52,854,867 shares in the company, valued at approximately $7,928,230,050. The disclosure for this sale can be found here. Insiders have sold 6,071,559 shares of company stock worth $910,983,170 in the last 90 days. Insiders own 28.40% of the company’s stock.

Shares of AmerisourceBergen stock opened at $145.02 on Thursday. The company has a market capitalization of $30.38 billion, a PE ratio of 17.69, a P/E/G ratio of 1.63 and a beta of 0.45. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.56 and a current ratio of 0.92. The company has a 50-day simple moving average of $152.63 and a two-hundred day simple moving average of $144.47. AmerisourceBergen Co. has a one year low of $111.34 and a one year high of $167.19.

AmerisourceBergen (NYSE:ABCGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.23. AmerisourceBergen had a net margin of 0.75% and a return on equity of 349.46%. The business had revenue of $57.72 billion during the quarter, compared to the consensus estimate of $57.26 billion. During the same period in the previous year, the company posted $2.53 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. On average, equities analysts predict that AmerisourceBergen Co. will post 10.95 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th were paid a dividend of $0.46 per share. The ex-dividend date was Friday, May 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.27%. AmerisourceBergen’s payout ratio is 22.44%.

AmerisourceBergen 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.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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