MML Investors Services LLC lifted its position in AmerisourceBergen Corp. (NYSE:ABC) by 16.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,252 shares of the company’s stock after purchasing an additional 8,655 shares during the quarter. MML Investors Services LLC’s holdings in AmerisourceBergen were worth $4,871,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of ABC. Acima Private Wealth LLC purchased a new position in shares of AmerisourceBergen during the fourth quarter worth about $26,000. Rational Advisors LLC lifted its position in shares of AmerisourceBergen by 1,627.3% during the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock valued at $30,000 after acquiring an additional 358 shares during the period. Riverview Trust Co lifted its position in shares of AmerisourceBergen by 127.3% during the 1st quarter. Riverview Trust Co now owns 391 shares of the company’s stock valued at $31,000 after acquiring an additional 219 shares during the period. Trust Co. of Vermont raised its position in shares of AmerisourceBergen by 963.8% during the 1st quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock worth $40,000 after purchasing an additional 453 shares during the last quarter. Finally, JNBA Financial Advisors acquired a new position in shares of AmerisourceBergen during the 4th quarter worth approximately $37,000. 66.52% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ABC traded down $0.37 during midday trading on Friday, reaching $85.26. The stock had a trading volume of 1,565,448 shares, compared to its average volume of 1,465,206. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen Corp. has a 1-year low of $69.36 and a 1-year high of $94.85. The business has a fifty day moving average price of $81.68. The firm has a market capitalization of $18.04 billion, a PE ratio of 13.14, a P/E/G ratio of 1.62 and a beta of 0.92.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.88%. The ex-dividend date was Friday, May 17th. AmerisourceBergen’s payout ratio is presently 24.65%.
Several analysts have commented on ABC shares. TheStreet cut shares of AmerisourceBergen from a “b” rating to a “c+” rating in a research note on Tuesday, March 19th. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. ValuEngine lowered shares of AmerisourceBergen from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 23rd. Guggenheim initiated coverage on shares of AmerisourceBergen in a research report on Thursday, April 11th. They issued a “buy” rating for the company. Finally, Argus decreased their price objective on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. AmerisourceBergen presently has an average rating of “Hold” and an average price target of $88.33.
In related news, Chairman Steven H. Collis sold 107,826 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the completion of the transaction, the chairman now owns 242,405 shares in the company, valued at $20,890,462.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Gochnauer sold 8,256 shares of AmerisourceBergen stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $84.95, for a total transaction of $701,347.20. Following the completion of the transaction, the director now directly owns 20,620 shares in the company, valued at approximately $1,751,669. The disclosure for this sale can be found here. Insiders sold a total of 158,840 shares of company stock valued at $13,413,326 in the last 90 days. Corporate insiders own 27.80% of the company’s stock.
AmerisourceBergen Company Profile
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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