AmerisourceBergen Co. (NYSE:ABC) Stock Holdings Boosted by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. lifted its position in shares of AmerisourceBergen Co. (NYSE:ABCGet Rating) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,894 shares of the company’s stock after acquiring an additional 105 shares during the period. Newbridge Financial Services Group Inc.’s holdings in AmerisourceBergen were worth $551,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP grew its position in shares of AmerisourceBergen by 42.4% during the first quarter. Allworth Financial LP now owns 292 shares of the company’s stock worth $45,000 after acquiring an additional 87 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in AmerisourceBergen by 10.4% in the second quarter. 180 Wealth Advisors LLC now owns 2,014 shares of the company’s stock worth $288,000 after purchasing an additional 190 shares during the period. Koshinski Asset Management Inc. lifted its holdings in AmerisourceBergen by 1.6% in the first quarter. Koshinski Asset Management Inc. now owns 8,199 shares of the company’s stock worth $1,268,000 after purchasing an additional 132 shares during the period. Hazlett Burt & Watson Inc. acquired a new stake in AmerisourceBergen in the first quarter worth about $94,000. Finally, Huntington National Bank lifted its holdings in AmerisourceBergen by 3.8% in the first quarter. Huntington National Bank now owns 34,289 shares of the company’s stock worth $5,305,000 after purchasing an additional 1,260 shares during the period. Institutional investors own 64.17% of the company’s stock.

Insider Activity

In other news, CEO Steven H. Collis sold 11,480 shares of the company’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $142.35, for a total value of $1,634,178.00. Following the transaction, the chief executive officer now owns 205,178 shares in the company, valued at approximately $29,207,088.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 34,440 shares of company stock worth $4,924,920 in the last 90 days. Company insiders own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABC. Evercore ISI reduced their price objective on shares of AmerisourceBergen to $165.00 in a report on Friday, June 3rd. Morgan Stanley upped their price objective on shares of AmerisourceBergen from $175.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, August 22nd. StockNews.com raised shares of AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 9th. Credit Suisse Group cut their price target on shares of AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, August 4th. Finally, Cowen cut their price target on shares of AmerisourceBergen from $171.00 to $170.00 in a report on Thursday, June 9th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.55.

AmerisourceBergen Trading Down 2.9 %

NYSE ABC traded down $4.03 on Friday, hitting $135.98. 16,270 shares of the company were exchanged, compared to its average volume of 974,532. The company’s 50 day moving average price is $145.03 and its 200-day moving average price is $149.10. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.92 and a quick ratio of 0.55. The firm has a market capitalization of $28.18 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.54 and a beta of 0.46. AmerisourceBergen Co. has a twelve month low of $113.68 and a twelve month high of $167.19.

AmerisourceBergen (NYSE:ABCGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.06. The firm had revenue of $60.06 billion for the quarter, compared to the consensus estimate of $59.03 billion. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.16 EPS. Analysts predict that AmerisourceBergen Co. will post 11 earnings per share for the current fiscal year.

AmerisourceBergen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were issued a $0.46 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.35%. AmerisourceBergen’s dividend payout ratio is 21.10%.

About AmerisourceBergen

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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.

See Also

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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