O Shaughnessy Asset Management LLC Increases Stake in AmerisourceBergen Co. (NYSE:ABC)

Posted by Wayne Rhoads on May 26th, 2023

O Shaughnessy Asset Management LLC boosted its stake in shares of AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 14.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,713 shares of the company’s stock after acquiring an additional 1,745 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in AmerisourceBergen were worth $2,272,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. RFP Financial Group LLC acquired a new stake in AmerisourceBergen in the fourth quarter valued at approximately $25,000. Boyd Watterson Asset Management LLC OH acquired a new stake in AmerisourceBergen in the fourth quarter valued at approximately $29,000. Iron Horse Wealth Management LLC acquired a new stake in AmerisourceBergen in the fourth quarter valued at approximately $41,000. Hanseatic Management Services Inc. grew its holdings in AmerisourceBergen by 73.7% in the third quarter. Hanseatic Management Services Inc. now owns 264 shares of the company’s stock valued at $36,000 after purchasing an additional 112 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in AmerisourceBergen by 63.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 265 shares of the company’s stock valued at $44,000 after purchasing an additional 103 shares during the period. 84.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on AmerisourceBergen from $174.00 to $182.00 in a report on Wednesday, May 3rd. TheStreet raised AmerisourceBergen from a “c” rating to a “b+” rating in a research note on Tuesday, May 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $185.00 price target on shares of AmerisourceBergen in a research note on Tuesday, January 31st. Mizuho lifted their price target on AmerisourceBergen from $170.00 to $174.00 in a research note on Wednesday, May 3rd. Finally, Citigroup assumed coverage on AmerisourceBergen in a research note on Friday, March 31st. They issued a “buy” rating and a $185.00 price target on the stock. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $181.62.

Insider Activity at AmerisourceBergen

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 292,792 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $170.77, for a total value of $50,000,089.84. Following the sale, the insider now owns 33,366,388 shares in the company, valued at approximately $5,697,978,078.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 292,792 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $170.77, for a total value of $50,000,089.84. Following the sale, the insider now owns 33,366,388 shares in the company, valued at approximately $5,697,978,078.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gina Clark sold 1,924 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $156.22, for a total value of $300,567.28. Following the sale, the executive vice president now owns 26,733 shares in the company, valued at approximately $4,176,229.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 326,213 shares of company stock worth $55,412,200. 20.10% of the stock is currently owned by company insiders.

AmerisourceBergen Price Performance

NYSE:ABC opened at $170.17 on Friday. AmerisourceBergen Co. has a 52 week low of $135.14 and a 52 week high of $176.62. 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 company has a market capitalization of $34.45 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.63 and a beta of 0.52. The stock’s fifty day moving average is $165.66 and its two-hundred day moving average is $163.19.

AmerisourceBergen (NYSE:ABC – Get Rating) last posted its earnings results on Tuesday, May 2nd. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.29 by $0.21. The company had revenue of $63.46 billion for the quarter, compared to the consensus estimate of $60.40 billion. AmerisourceBergen had a return on equity of 809.53% and a net margin of 0.65%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.22 earnings per share. Equities analysts expect that AmerisourceBergen Co. will post 11.88 EPS for the current year.

AmerisourceBergen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 30th. Investors of record on Friday, May 12th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $1.94 annualized dividend and a dividend yield of 1.14%. AmerisourceBergen’s dividend payout ratio is presently 24.94%.

About AmerisourceBergen

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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.