Kinneret Advisory LLC Invests $144,000 in AmerisourceBergen Corp. (ABC)

Kinneret Advisory LLC acquired a new position in shares of AmerisourceBergen Corp. (NYSE:ABC) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,939 shares of the company’s stock, valued at approximately $144,000.

Several other hedge funds also recently made changes to their positions in ABC. Oregon Public Employees Retirement Fund grew its position in shares of AmerisourceBergen by 6,614.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,448,589 shares of the company’s stock worth $46,000 after buying an additional 3,397,228 shares during the period. Victory Capital Management Inc. grew its position in shares of AmerisourceBergen by 396.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,406,821 shares of the company’s stock worth $179,068,000 after buying an additional 1,922,395 shares during the period. Baupost Group LLC MA grew its position in shares of AmerisourceBergen by 46.8% during the 3rd quarter. Baupost Group LLC MA now owns 2,751,056 shares of the company’s stock worth $253,702,000 after buying an additional 877,491 shares during the period. Boston Partners acquired a new stake in shares of AmerisourceBergen during the 4th quarter worth approximately $54,076,000. Finally, BlackRock Inc. grew its position in shares of AmerisourceBergen by 4.3% during the 3rd quarter. BlackRock Inc. now owns 13,324,749 shares of the company’s stock worth $1,228,809,000 after buying an additional 548,296 shares during the period. 66.29% of the stock is owned by institutional investors.

Shares of ABC opened at $79.51 on Friday. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $99.25. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $16.78 billion, a P/E ratio of 12.25, a PEG ratio of 1.45 and a beta of 1.13.

AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, January 31st. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.10. AmerisourceBergen had a return on equity of 44.53% and a net margin of 0.69%. The company had revenue of $45.39 billion for the quarter, compared to analysts’ expectations of $43.52 billion. As a group, sell-side analysts forecast that AmerisourceBergen Corp. will post 6.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Tuesday, February 19th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Friday, February 15th. AmerisourceBergen’s dividend payout ratio is currently 24.65%.

In related news, CEO Steven H. Collis sold 21,344 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $83.62, for a total value of $1,784,785.28. Following the transaction, the chief executive officer now directly owns 155,923 shares in the company, valued at approximately $13,038,281.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $73.96, for a total value of $1,579,046.00. Following the transaction, the chief executive officer now owns 155,929 shares in the company, valued at $11,532,508.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,862 shares of company stock worth $8,934,873. 27.80% of the stock is owned by company insiders.

Several brokerages have recently commented on ABC. Morgan Stanley raised their price objective on shares of AmerisourceBergen from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Monday, December 3rd. Royal Bank of Canada reduced their price objective on shares of AmerisourceBergen from $90.00 to $87.00 and set a “hold” rating for the company in a research report on Friday, November 30th. Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Friday, March 8th. Barclays reiterated a “hold” rating and issued a $84.00 target price on shares of AmerisourceBergen in a report on Sunday, January 6th. Finally, TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a report on Tuesday, February 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. AmerisourceBergen presently has a consensus rating of “Hold” and a consensus price target of $88.33.

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AmerisourceBergen Profile

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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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