Mutual Advisors LLC Acquires 111 Shares of AmerisourceBergen Co. (NYSE:ABC)

Mutual Advisors LLC increased its holdings in shares of AmerisourceBergen Co. (NYSE:ABCGet Rating) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,054 shares of the company’s stock after acquiring an additional 111 shares during the period. Mutual Advisors LLC’s holdings in AmerisourceBergen were worth $684,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its position in AmerisourceBergen by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company’s stock worth $2,848,446,000 after acquiring an additional 1,269,147 shares during the last quarter. JPMorgan Chase & Co. grew its position in AmerisourceBergen by 1.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,521,705 shares of the company’s stock worth $1,064,171,000 after acquiring an additional 115,994 shares during the last quarter. State Street Corp grew its position in AmerisourceBergen by 1.8% during the 1st quarter. State Street Corp now owns 6,931,262 shares of the company’s stock worth $1,072,336,000 after acquiring an additional 123,695 shares during the last quarter. FMR LLC grew its position in AmerisourceBergen by 10.2% during the 2nd quarter. FMR LLC now owns 5,664,668 shares of the company’s stock worth $801,436,000 after acquiring an additional 523,003 shares during the last quarter. Finally, Invesco Ltd. grew its position in AmerisourceBergen by 42.3% during the 1st quarter. Invesco Ltd. now owns 2,079,491 shares of the company’s stock worth $321,717,000 after acquiring an additional 618,248 shares during the last quarter. 84.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABC has been the topic of a number of recent research reports. Credit Suisse Group increased their price objective on AmerisourceBergen from $175.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, November 22nd. Robert W. Baird increased their price objective on AmerisourceBergen from $195.00 to $199.00 and gave the company an “outperform” rating in a research report on Wednesday, January 11th. Bank Of America (Bofa) upgraded AmerisourceBergen to a “buy” rating in a research report on Tuesday, October 11th. Cowen decreased their price objective on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 18th. Finally, Bank of America upgraded AmerisourceBergen from a “neutral” rating to a “buy” rating and increased their price objective for the company from $160.00 to $169.00 in a research report on Tuesday, October 11th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AmerisourceBergen currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.25.

AmerisourceBergen Stock Performance

Shares of AmerisourceBergen stock opened at $161.43 on Wednesday. The company has a market capitalization of $33.20 billion, a PE ratio of 20.08, a PEG ratio of 1.63 and a beta of 0.55. AmerisourceBergen Co. has a 12 month low of $127.98 and a 12 month high of $174.63. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 64.99. The stock’s fifty day simple moving average is $165.96 and its 200 day simple moving average is $152.87.

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

AmerisourceBergen Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 14th were paid a $0.485 dividend. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, November 10th. This represents a $1.94 annualized dividend and a dividend yield of 1.20%. AmerisourceBergen’s dividend payout ratio (DPR) is currently 24.13%.

Insider Buying and Selling at AmerisourceBergen

In other AmerisourceBergen 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 sale, the insider now owns 39,629,714 shares of the company’s stock, valued at approximately $6,126,753,784.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AmerisourceBergen 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 sale, the insider now owns 39,629,714 shares of the company’s stock, valued at approximately $6,126,753,784.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina Clark sold 392 shares of the firm’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $166.30, for a total value of $65,189.60. Following the completion of the transaction, the executive vice president now owns 28,657 shares of the company’s stock, valued at approximately $4,765,659.10. The disclosure for this sale can be found here. Insiders have sold 19,279,532 shares of company stock valued at $3,043,889,702 in the last 90 days. 28.80% of the stock is currently owned by company insiders.

AmerisourceBergen Company Profile

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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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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