Northwestern Mutual Investment Management Company LLC cut its position in AmerisourceBergen Corp. (NYSE:ABC) by 18.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,588 shares of the company’s stock after selling 6,865 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in AmerisourceBergen were worth $2,551,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABC. Mutual of America Capital Management LLC boosted its stake in AmerisourceBergen by 11.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 21,611 shares of the company’s stock valued at $1,984,000 after purchasing an additional 2,233 shares during the period. Victory Capital Management Inc. boosted its stake in AmerisourceBergen by 4.3% in the 4th quarter. Victory Capital Management Inc. now owns 45,145 shares of the company’s stock valued at $4,145,000 after purchasing an additional 1,858 shares during the period. Teacher Retirement System of Texas boosted its stake in AmerisourceBergen by 141.1% in the 4th quarter. Teacher Retirement System of Texas now owns 101,893 shares of the company’s stock valued at $9,356,000 after purchasing an additional 59,636 shares during the period. California Public Employees Retirement System boosted its stake in AmerisourceBergen by 12.3% in the 4th quarter. California Public Employees Retirement System now owns 448,705 shares of the company’s stock valued at $41,200,000 after purchasing an additional 49,047 shares during the period. Finally, Swiss National Bank boosted its stake in AmerisourceBergen by 0.3% in the 4th quarter. Swiss National Bank now owns 604,116 shares of the company’s stock valued at $55,470,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 66.18% of the company’s stock.
NYSE:ABC opened at $90.66 on Thursday. The firm has a market cap of $19.18 billion, a PE ratio of 15.42, a P/E/G ratio of 1.33 and a beta of 1.02. The company has a quick ratio of 0.48, a current ratio of 0.94 and a debt-to-equity ratio of 1.38. AmerisourceBergen Corp. has a fifty-two week low of $71.90 and a fifty-two week high of $106.27.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.13. AmerisourceBergen had a return on equity of 51.04% and a net margin of 0.57%. The company had revenue of $41.03 billion during the quarter, compared to analysts’ expectations of $40.56 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. AmerisourceBergen’s revenue was up 10.5% on a year-over-year basis. research analysts expect that AmerisourceBergen Corp. will post 6.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 4th. Stockholders of record on Monday, May 21st were issued a dividend of $0.38 per share. The ex-dividend date was Friday, May 18th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.68%. AmerisourceBergen’s dividend payout ratio (DPR) is currently 25.85%.
In other news, CFO Tim G. Guttman sold 11,600 shares of the business’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $80.83, for a total transaction of $937,628.00. Following the completion of the transaction, the chief financial officer now owns 51,189 shares of the company’s stock, valued at approximately $4,137,606.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven H. Collis sold 21,350 shares of the business’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $83.08, for a total value of $1,773,758.00. Following the transaction, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at approximately $23,920,809. The disclosure for this sale can be found here. Insiders have sold a total of 113,213 shares of company stock valued at $9,634,979 in the last three months. 27.30% of the stock is owned by insiders.
Several research firms recently issued reports on ABC. Cowen restated a “buy” rating and issued a $108.00 price target on shares of AmerisourceBergen in a research note on Tuesday, February 27th. Royal Bank of Canada set a $101.00 price target on AmerisourceBergen and gave the company a “hold” rating in a research note on Monday, April 2nd. Barclays reduced their price target on AmerisourceBergen from $104.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 27th. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. Finally, Bank of America assumed coverage on AmerisourceBergen in a research note on Tuesday, February 27th. They issued a “buy” rating and a $111.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $103.07.
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, outsourced compounded sterile preparations, 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 other alternate site pharmacies, and other customers.
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