Posted by admin on Aug 23rd, 2022 
Aaron Wealth Advisors LLC bought a new position in shares of AmerisourceBergen Co. (NYSE:ABC – Get Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 64,978 shares of the company’s stock, valued at approximately $420,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Herold Advisors Inc. bought a new stake in shares of AmerisourceBergen during the first quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV raised its position in shares of AmerisourceBergen by 133.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock valued at $32,000 after buying an additional 120 shares during the last quarter. Cassady Schiller Wealth Management LLC bought a new stake in shares of AmerisourceBergen during the fourth quarter valued at approximately $33,000. Johnson Financial Group Inc. bought a new stake in shares of AmerisourceBergen during the fourth quarter valued at approximately $38,000. Finally, Quent Capital LLC bought a new stake in shares of AmerisourceBergen during the fourth quarter valued at approximately $38,000. Institutional investors own 64.17% of the company’s stock.
In other news, CEO Steven H. Collis sold 11,480 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $142.35, for a total transaction of $1,634,178.00. Following the sale, the chief executive officer now owns 205,178 shares in the company, valued at $29,207,088.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 34,440 shares of company stock worth $4,911,374. Insiders own 28.80% of the company’s stock.
ABC has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of AmerisourceBergen from $175.00 to $176.00 and gave the company an “equal weight” rating in a research report on Monday. Robert W. Baird raised their target price on shares of AmerisourceBergen from $179.00 to $187.00 in a report on Thursday, May 5th. Cowen cut their target price on shares of AmerisourceBergen from $171.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday, June 9th. Evercore ISI cut their target price on shares of AmerisourceBergen to $165.00 in a report on Friday, June 3rd. Finally, Argus raised their target price on shares of AmerisourceBergen from $160.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.55.
Shares of AmerisourceBergen stock opened at $148.99 on Tuesday. The company has a market capitalization of $31.21 billion, a PE ratio of 17.09, a P/E/G ratio of 1.68 and a beta of 0.48. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.55 and a current ratio of 0.92. The company has a 50-day simple moving average of $143.92 and a two-hundred day simple moving average of $148.68. AmerisourceBergen Co. has a one year low of $113.68 and a one year high of $167.19.
AmerisourceBergen (NYSE:ABC – Get Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.06. The business had revenue of $60.06 billion during the quarter, compared to the consensus estimate of $59.03 billion. AmerisourceBergen had a net margin of 0.78% and a return on equity of 350.60%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 earnings per share. Research analysts expect that AmerisourceBergen Co. will post 11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, August 12th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.23%. AmerisourceBergen’s payout ratio is 21.10%.
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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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