AmerisourceBergen Corp. (ABC) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System raised its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 448,705 shares of the company’s stock after purchasing an additional 49,047 shares during the quarter. California Public Employees Retirement System’s holdings in AmerisourceBergen were worth $41,200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABC. Macquarie Group Ltd. raised its position in AmerisourceBergen by 157.2% in the 2nd quarter. Macquarie Group Ltd. now owns 20,320 shares of the company’s stock valued at $1,921,000 after purchasing an additional 12,420 shares during the last quarter. 1st Global Advisors Inc. bought a new position in AmerisourceBergen in the 2nd quarter valued at $310,000. Advisory Services Network LLC raised its position in AmerisourceBergen by 2.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,367 shares of the company’s stock valued at $413,000 after purchasing an additional 101 shares during the last quarter. Toronto Dominion Bank raised its position in AmerisourceBergen by 16.9% in the 2nd quarter. Toronto Dominion Bank now owns 82,452 shares of the company’s stock valued at $7,797,000 after purchasing an additional 11,948 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in AmerisourceBergen by 14.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 175,000 shares of the company’s stock valued at $16,543,000 after purchasing an additional 22,200 shares during the last quarter. Hedge funds and other institutional investors own 66.84% of the company’s stock.

Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at $96.40 on Thursday. The company has a market capitalization of $21,477.04, a price-to-earnings ratio of 20.78, a PEG ratio of 1.56 and a beta of 1.02. AmerisourceBergen Corp. has a 52 week low of $71.90 and a 52 week high of $106.27. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.95 and a quick ratio of 0.50.

AmerisourceBergen (NYSE:ABC) last released its earnings results on Tuesday, February 6th. The company reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.20. The company had revenue of $40.47 billion during the quarter, compared to analysts’ expectations of $40.42 billion. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $1.36 EPS. sell-side analysts predict that AmerisourceBergen Corp. will post 6.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, February 16th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.58%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 32.76%.

In related news, Director Richard W. Gochnauer sold 2,000 shares of AmerisourceBergen stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $85.00, for a total transaction of $170,000.00. Following the completion of the sale, the director now directly owns 12,947 shares of the company’s stock, valued at $1,100,495. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Gochnauer sold 2,278 shares of AmerisourceBergen stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $101.13, for a total value of $230,374.14. Following the sale, the director now directly owns 13,225 shares of the company’s stock, valued at $1,337,444.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,355 shares of company stock valued at $18,519,104. 27.30% of the stock is owned by insiders.

ABC has been the subject of several research analyst reports. Mizuho set a $92.00 price objective on AmerisourceBergen and gave the company a “hold” rating in a research report on Tuesday, October 24th. Deutsche Bank initiated coverage on AmerisourceBergen in a research report on Monday, December 4th. They issued a “buy” rating and a $97.00 price objective for the company. Goldman Sachs Group upgraded AmerisourceBergen from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Wednesday, January 3rd. Finally, Leerink Swann set a $105.00 price objective on AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. AmerisourceBergen presently has a consensus rating of “Buy” and an average target price of $101.17.

TRADEMARK VIOLATION WARNING: “AmerisourceBergen Corp. (ABC) Shares Bought by California Public Employees Retirement System” was first published by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.themarketsdaily.com/2018/02/15/amerisourcebergen-corp-abc-shares-bought-by-california-public-employees-retirement-system.html.

AmerisourceBergen Company Profile

AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.

Want to see what other hedge funds are holding ABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmerisourceBergen Corp. (NYSE:ABC).

Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply