Cwm LLC lowered its position in AmerisourceBergen Co. (NYSE:ABC) by 9.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 51,756 shares of the company’s stock after selling 5,226 shares during the period. Cwm LLC’s holdings in AmerisourceBergen were worth $6,111,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in AmerisourceBergen in the 4th quarter worth $153,111,000. American International Group Inc. lifted its stake in AmerisourceBergen by 1,030.0% in the 4th quarter. American International Group Inc. now owns 1,715,251 shares of the company’s stock worth $167,683,000 after purchasing an additional 1,563,453 shares in the last quarter. First Trust Advisors LP lifted its stake in AmerisourceBergen by 63.5% in the 4th quarter. First Trust Advisors LP now owns 2,040,980 shares of the company’s stock worth $199,526,000 after purchasing an additional 792,778 shares in the last quarter. Scout Investments Inc. purchased a new stake in shares of AmerisourceBergen during the 1st quarter valued at about $39,758,000. Finally, Rothschild & Co. Asset Management US Inc. raised its position in shares of AmerisourceBergen by 85.7% during the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 628,245 shares of the company’s stock valued at $61,417,000 after buying an additional 289,928 shares in the last quarter. 63.35% of the stock is owned by institutional investors.
Shares of ABC stock opened at $123.79 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.98 and a quick ratio of 0.60. The company has a market capitalization of $25.34 billion, a P/E ratio of -7.37, a P/E/G ratio of 1.13 and a beta of 0.57. The company’s 50-day simple moving average is $117.89 and its two-hundred day simple moving average is $106.86. AmerisourceBergen Co. has a one year low of $81.51 and a one year high of $124.28.
In other news, CEO Steven H. Collis sold 33,697 shares of the stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $112.71, for a total transaction of $3,797,988.87. Following the transaction, the chief executive officer now directly owns 216,724 shares in the company, valued at $24,426,962.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John G. Chou sold 6,082 shares of the stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $115.35, for a total transaction of $701,558.70. Following the transaction, the executive vice president now owns 73,183 shares in the company, valued at $8,441,659.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,373 shares of company stock worth $10,882,620. Insiders own 28.30% of the company’s stock.
ABC has been the topic of several recent research reports. Zacks Investment Research upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating and set a $111.00 target price on the stock in a research report on Thursday, January 7th. Morgan Stanley upped their target price on shares of AmerisourceBergen from $130.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, February 8th. Cowen upped their target price on shares of AmerisourceBergen from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 8th. Bank of America upgraded shares of AmerisourceBergen from an “underperform” rating to a “neutral” rating in a report on Wednesday, January 6th. Finally, Credit Suisse Group upped their price target on shares of AmerisourceBergen from $123.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, February 5th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $121.67.
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.
Further Reading: Trading on Margin
Want to see what other hedge funds are holding ABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmerisourceBergen Co. (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.