Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Grows Position in AmerisourceBergen Corp. (NYSE:ABC)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,468 shares of the company’s stock after buying an additional 4,066 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in AmerisourceBergen were worth $2,644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in AmerisourceBergen by 1.1% during the 2nd quarter. BlackRock Inc. now owns 12,325,863 shares of the company’s stock valued at $1,050,903,000 after acquiring an additional 136,458 shares in the last quarter. Cerebellum GP LLC bought a new position in AmerisourceBergen during the 3rd quarter valued at $80,000. NuWave Investment Management LLC raised its stake in shares of AmerisourceBergen by 25.7% during the 3rd quarter. NuWave Investment Management LLC now owns 778 shares of the company’s stock worth $63,000 after purchasing an additional 159 shares during the period. DNB Asset Management AS raised its stake in shares of AmerisourceBergen by 3.7% during the 3rd quarter. DNB Asset Management AS now owns 26,220 shares of the company’s stock worth $2,159,000 after purchasing an additional 932 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of AmerisourceBergen by 10.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,692 shares of the company’s stock worth $797,000 after purchasing an additional 935 shares during the period. Institutional investors and hedge funds own 66.80% of the company’s stock.

Shares of AmerisourceBergen stock opened at $94.36 on Friday. AmerisourceBergen Corp. has a 52-week low of $70.55 and a 52-week high of $97.50. The stock’s 50-day simple moving average is $88.42 and its 200 day simple moving average is $86.41. The stock has a market capitalization of $19.46 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.66 and a beta of 1.01. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.56 and a current ratio of 0.95.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. AmerisourceBergen had a return on equity of 49.95% and a net margin of 0.36%. The business had revenue of $47.86 billion for the quarter, compared to analysts’ expectations of $47.84 billion. During the same period in the previous year, the business posted $1.60 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that AmerisourceBergen Corp. will post 7.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Thursday, February 13th. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.40. AmerisourceBergen’s payout ratio is presently 23.70%.

A number of equities research analysts have recently commented on the company. Credit Suisse Group reiterated a “buy” rating and set a $98.00 target price on shares of AmerisourceBergen in a research note on Sunday, February 2nd. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b-” rating in a research note on Friday, December 6th. Argus reiterated a “buy” rating and set a $110.00 target price on shares of AmerisourceBergen in a research note on Monday, November 18th. Robert W. Baird upgraded AmerisourceBergen from a “neutral” rating to an “outperform” rating and set a $112.00 target price on the stock in a research note on Friday, February 7th. Finally, Deutsche Bank lifted their target price on AmerisourceBergen from $79.00 to $93.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. AmerisourceBergen presently has an average rating of “Hold” and a consensus target price of $95.13.

In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $93.20, for a total transaction of $1,855,146.00. Following the completion of the transaction, the chief executive officer now owns 162,027 shares of the company’s stock, valued at approximately $15,100,916.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gina Clark sold 10,917 shares of AmerisourceBergen stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $88.24, for a total value of $963,316.08. Insiders have sold a total of 64,417 shares of company stock valued at $5,743,456 in the last ninety days. Insiders own 28.30% of the company’s stock.

AmerisourceBergen 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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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