Coho Partners Ltd. raised its holdings in AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,553,646 shares of the company’s stock after acquiring an additional 17,522 shares during the period. AmerisourceBergen makes up 4.4% of Coho Partners Ltd.’s investment portfolio, making the stock its 7th largest position. Coho Partners Ltd. owned about 0.76% of AmerisourceBergen worth $257,455,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Czech National Bank bought a new stake in shares of AmerisourceBergen in the 3rd quarter valued at about $2,445,000. Salem Investment Counselors Inc. grew its holdings in AmerisourceBergen by 716.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,225 shares of the company’s stock worth $173,000 after acquiring an additional 1,075 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in 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 during the period. State of Alaska Department of Revenue increased its stake in shares of AmerisourceBergen by 10.4% during the third quarter. State of Alaska Department of Revenue now owns 38,076 shares of the company’s stock valued at $5,152,000 after buying an additional 3,600 shares during the period. Finally, Corient Capital Partners LLC increased its position in AmerisourceBergen by 11.1% during the 2nd 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. Institutional investors own 84.79% of the company’s stock.
Analyst Ratings Changes
Several analysts have commented on the stock. UBS Group raised their price objective on shares of AmerisourceBergen from $184.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Evercore ISI reissued an “outperform” rating and set a $185.00 price objective on shares of AmerisourceBergen in a research report on Tuesday, January 31st. Robert W. Baird upped their target price on shares of AmerisourceBergen from $199.00 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Mizuho lifted their price target on shares of AmerisourceBergen from $162.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Finally, StockNews.com assumed coverage on shares of AmerisourceBergen in a research note on Thursday. They set a “strong-buy” rating on the stock. Two 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $180.08.
AmerisourceBergen Stock Performance
AmerisourceBergen (NYSE:ABC – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.09. The firm had revenue of $62.85 billion for the quarter, compared to the consensus estimate of $62.77 billion. AmerisourceBergen had a net margin of 0.72% and a return on equity of 597.57%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 EPS. Research analysts anticipate that AmerisourceBergen Co. will post 11.61 earnings per share for the current fiscal year.
AmerisourceBergen Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Friday, February 10th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $1.94 annualized dividend and a yield of 1.28%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 23.54%.
Insider Activity at AmerisourceBergen
In other news, CAO Lazarus Krikorian sold 2,218 shares of the 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 of the company’s stock, valued at $3,385,984.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Steven H. Collis sold 10,499 shares of AmerisourceBergen stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $164.28, for a total value of $1,724,775.72. Following the sale, the chief executive officer now directly owns 257,967 shares of the company’s stock, valued at $42,378,818.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lazarus Krikorian sold 2,218 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $169.24, for a total transaction of $375,374.32. Following the sale, the chief accounting officer now owns 20,007 shares in the company, valued at $3,385,984.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,851 shares of company stock worth $4,865,455. Corporate insiders own 20.10% of the company’s stock.
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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