Coho Partners Ltd. increased its stake in AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,553,646 shares of the company’s stock after purchasing an additional 17,522 shares during the period. AmerisourceBergen accounts for about 4.4% of Coho Partners Ltd.’s portfolio, making the stock its 7th largest position. Coho Partners Ltd.’s holdings in AmerisourceBergen were worth $257,455,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in ABC. Czech National Bank acquired a new stake in shares of AmerisourceBergen in the third quarter worth $2,445,000. Salem Investment Counselors Inc. raised its position in AmerisourceBergen by 716.7% during the second quarter. Salem Investment Counselors Inc. now owns 1,225 shares of the company’s stock valued at $173,000 after acquiring an additional 1,075 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of AmerisourceBergen by 2.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 143,276 shares of the company’s stock valued at $19,390,000 after purchasing an additional 3,100 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of AmerisourceBergen by 10.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 38,076 shares of the company’s stock worth $5,152,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Corient Capital Partners LLC grew its holdings in AmerisourceBergen by 11.1% in the second quarter. Corient Capital Partners LLC now owns 3,832 shares of the company’s stock valued at $542,000 after purchasing an additional 383 shares during the period. 84.79% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CAO Lazarus Krikorian sold 2,218 shares of the stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $169.24, for a total value of $375,374.32. Following the completion of the transaction, the chief accounting officer now owns 20,007 shares in the company, valued at approximately $3,385,984.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AmerisourceBergen news, CEO Steven H. Collis sold 10,499 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $164.28, for a total transaction of $1,724,775.72. Following the sale, the chief executive officer now directly owns 257,967 shares in the company, valued at $42,378,818.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lazarus Krikorian sold 2,218 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $169.24, for a total value of $375,374.32. Following the completion of the sale, the chief accounting officer now directly owns 20,007 shares in the company, valued at approximately $3,385,984.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,851 shares of company stock worth $4,865,455. Corporate insiders own 20.10% of the company’s stock.
AmerisourceBergen Trading Down 0.0 %
AmerisourceBergen (NYSE:ABC – Get Rating) last released its earnings results on Wednesday, February 1st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.09. The company had revenue of $62.85 billion for the quarter, compared to analysts’ expectations of $62.77 billion. AmerisourceBergen had a return on equity of 597.57% and a net margin of 0.72%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 EPS. Equities research analysts expect that AmerisourceBergen Co. will post 11.61 EPS for the current year.
AmerisourceBergen Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, February 27th. Shareholders of record on Friday, February 10th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, February 9th. AmerisourceBergen’s dividend payout ratio (DPR) is currently 23.54%.
Analyst Ratings Changes
Several research analysts recently commented on ABC shares. TheStreet downgraded AmerisourceBergen from a “b-” rating to a “c” rating in a research note on Monday, March 6th. UBS Group increased their price target on shares of AmerisourceBergen from $184.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Evercore ISI reaffirmed an “outperform” rating and issued a $185.00 target price on shares of AmerisourceBergen in a research report on Tuesday, January 31st. StockNews.com began coverage on AmerisourceBergen in a research note on Thursday. They set a “strong-buy” rating on the stock. Finally, Robert W. Baird boosted their price objective on AmerisourceBergen from $199.00 to $201.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.08.
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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