Bard Financial Services Inc. purchased a new position in shares of AmerisourceBergen Co. (NYSE:ABC) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 8,310 shares of the company’s stock, valued at approximately $812,000.
A number of other institutional investors have also recently added to or reduced their stakes in ABC. Regent Peak Wealth Advisors LLC purchased a new position in AmerisourceBergen during the fourth quarter worth about $32,000. Truvestments Capital LLC bought a new stake in AmerisourceBergen in the fourth quarter worth about $35,000. Jacobi Capital Management LLC raised its position in AmerisourceBergen by 126.2% in the fourth quarter. Jacobi Capital Management LLC now owns 414 shares of the company’s stock worth $40,000 after acquiring an additional 231 shares during the period. Freedman Financial Associates Inc. bought a new stake in AmerisourceBergen in the fourth quarter worth about $41,000. Finally, Prestige Wealth Management Group LLC raised its position in AmerisourceBergen by 32.6% in the fourth quarter. Prestige Wealth Management Group LLC now owns 435 shares of the company’s stock worth $42,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 63.35% of the company’s stock.
AmerisourceBergen stock opened at $116.48 on Thursday. The firm’s 50 day simple moving average is $110.84 and its 200 day simple moving average is $103.90. The company has a current ratio of 0.98, a quick ratio of 0.60 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $23.84 billion, a PE ratio of -6.94, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. AmerisourceBergen Co. has a 1-year low of $81.51 and a 1-year high of $120.54.
The company also recently announced a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, February 11th. AmerisourceBergen’s dividend payout ratio (DPR) is presently 22.28%.
In other AmerisourceBergen news, EVP John G. Chou sold 6,082 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $115.35, for a total value of $701,558.70. Following the completion of the transaction, the executive vice president now owns 73,183 shares of the company’s stock, valued at approximately $8,441,659.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gina Clark sold 9,013 shares of the business’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $117.94, for a total transaction of $1,062,993.22. The disclosure for this sale can be found here. Insiders have sold a total of 54,593 shares of company stock worth $6,171,704 in the last ninety days. 28.30% of the stock is currently owned by insiders.
ABC has been the topic of several research reports. Zacks Investment Research raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating and set a $111.00 price objective on the stock in a research report on Thursday, January 7th. Evercore ISI raised shares of AmerisourceBergen from an “in-line” rating to an “outperform” rating in a research report on Thursday, February 4th. Argus boosted their price target on shares of AmerisourceBergen from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, January 21st. They noted that the move was a valuation call. Morgan Stanley boosted their price target 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. Finally, Bank of America raised shares of AmerisourceBergen from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 6th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average 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.
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