HBK Investments L P raised its stake in AmerisourceBergen Corp. (NYSE:ABC) by 136.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,600 shares of the company’s stock after acquiring an additional 49,941 shares during the quarter. HBK Investments L P’s holdings in AmerisourceBergen were worth $7,952,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of ABC. JPMorgan Chase & Co. boosted its stake in shares of AmerisourceBergen by 107.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after purchasing an additional 2,776,287 shares during the last quarter. Vulcan Value Partners LLC boosted its stake in AmerisourceBergen by 29.4% during the 4th quarter. Vulcan Value Partners LLC now owns 7,530,523 shares of the company’s stock worth $691,452,000 after acquiring an additional 1,710,816 shares during the last quarter. Harding Loevner LP boosted its stake in AmerisourceBergen by 89.6% during the 3rd quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock worth $134,939,000 after acquiring an additional 1,496,761 shares during the last quarter. Point72 Asset Management L.P. bought a new position in AmerisourceBergen during the 3rd quarter worth approximately $75,681,000. Finally, BlackRock Inc. boosted its stake in AmerisourceBergen by 5.8% during the 4th quarter. BlackRock Inc. now owns 12,384,803 shares of the company’s stock worth $1,137,171,000 after acquiring an additional 679,417 shares during the last quarter. 67.33% of the stock is currently owned by institutional investors.
Shares of AmerisourceBergen Corp. (NYSE ABC) opened at $100.60 on Wednesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.50 and a current ratio of 0.95. The company has a market cap of $22,030.61, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. AmerisourceBergen Corp. has a fifty-two week low of $71.90 and a fifty-two week high of $106.27.
The business also recently announced a quarterly dividend, which was paid on Monday, March 5th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.52 annualized dividend and a yield of 1.51%. AmerisourceBergen’s dividend payout ratio (DPR) is currently 32.76%.
In other AmerisourceBergen news, insider Peyton R. Howell sold 17,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $89.70, for a total transaction of $1,596,660.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert P. Mauch sold 3,000 shares of AmerisourceBergen stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $90.00, for a total transaction of $270,000.00. Following the completion of the sale, the executive vice president now owns 14,531 shares in the company, valued at $1,307,790. The disclosure for this sale can be found here. Insiders have sold a total of 177,609 shares of company stock worth $16,855,249 over the last 90 days. Corporate insiders own 27.30% of the company’s stock.
Several research analysts recently weighed in on ABC shares. Credit Suisse Group reissued an “outperform” rating and set a $112.00 price objective (up previously from $105.00) on shares of AmerisourceBergen in a research note on Wednesday, February 7th. They noted that the move was a valuation call. Needham & Company LLC lifted their price objective on shares of AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Mizuho set a $100.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Cowen reissued a “buy” rating and set a $108.00 price objective on shares of AmerisourceBergen in a research note on Tuesday, February 27th. Finally, TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $103.34.
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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.
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