Ceredex Value Advisors LLC Invests $80.61 Million in AmerisourceBergen (ABC)

Ceredex Value Advisors LLC acquired a new position in shares of AmerisourceBergen (NYSE:ABC) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 935,000 shares of the company’s stock, valued at approximately $80,607,000. AmerisourceBergen makes up approximately 1.0% of Ceredex Value Advisors LLC’s holdings, making the stock its 29th biggest position. Ceredex Value Advisors LLC owned 0.43% of AmerisourceBergen as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BB&T Investment Services Inc. grew its holdings in shares of AmerisourceBergen by 11.0% during the fourth quarter. BB&T Investment Services Inc. now owns 13,959 shares of the company’s stock worth $1,285,000 after buying an additional 1,379 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in shares of AmerisourceBergen by 33.3% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 12,813 shares of the company’s stock worth $1,176,000 after buying an additional 3,200 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of AmerisourceBergen by 75.7% during the fourth quarter. MML Investors Services LLC now owns 20,999 shares of the company’s stock worth $1,928,000 after buying an additional 9,045 shares in the last quarter. LVW Advisors LLC grew its holdings in shares of AmerisourceBergen by 3.6% during the fourth quarter. LVW Advisors LLC now owns 30,839 shares of the company’s stock worth $2,832,000 after buying an additional 1,058 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA grew its holdings in shares of AmerisourceBergen by 22.5% during the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 17,471 shares of the company’s stock worth $1,604,000 after buying an additional 3,212 shares in the last quarter. Institutional investors and hedge funds own 66.86% of the company’s stock.

In other news, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $93.01, for a total value of $1,078,916.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $94.25, for a total value of $2,012,237.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,092 shares of company stock valued at $10,136,544. Insiders own 27.30% of the company’s stock.

ABC has been the subject of a number of research reports. Zacks Investment Research downgraded AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Argus increased their price objective on AmerisourceBergen from $93.96 to $115.00 and gave the stock a “buy” rating in a report on Monday, March 5th. Bank of America assumed coverage on AmerisourceBergen in a research report on Tuesday, February 27th. They set a “buy” rating and a $111.00 price target for the company. Jefferies Group set a $95.00 price target on AmerisourceBergen and gave the company a “hold” rating in a research report on Wednesday, February 7th. Finally, Needham & Company LLC increased their price target on AmerisourceBergen from $88.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $103.07.

Shares of NYSE ABC opened at $87.07 on Friday. AmerisourceBergen has a 52 week low of $85.52 and a 52 week high of $86.72. The company has a quick ratio of 0.48, a current ratio of 0.94 and a debt-to-equity ratio of 1.38. The company has a market cap of $18.83 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.30 and a beta of 1.04.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Wednesday, May 2nd. The company reported $1.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.13. AmerisourceBergen had a return on equity of 51.04% and a net margin of 0.57%. The company had revenue of $41.03 billion during the quarter, compared to analysts’ expectations of $40.56 billion. During the same period last year, the firm posted $1.77 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. equities research analysts anticipate that AmerisourceBergen will post 6.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 4th. Stockholders of record on Monday, May 21st will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, May 18th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.75%. AmerisourceBergen’s payout ratio is 25.85%.

About AmerisourceBergen

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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