Atwater Malick LLC Makes New Investment in AmerisourceBergen Co. (NYSE:ABC)

Atwater Malick LLC acquired a new position in shares of AmerisourceBergen Co. (NYSE:ABC) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,700 shares of the company’s stock, valued at approximately $442,000.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of AmerisourceBergen in the 2nd quarter valued at $32,000. Baldrige Asset Management LLC acquired a new position in AmerisourceBergen during the 2nd quarter worth $34,000. KB Financial Partners LLC acquired a new position in AmerisourceBergen during the 1st quarter worth $35,000. JFS Wealth Advisors LLC acquired a new position in AmerisourceBergen during the 2nd quarter worth $39,000. Finally, Evermay Wealth Management LLC acquired a new position in AmerisourceBergen during the 2nd quarter worth $40,000. 63.63% of the stock is owned by institutional investors.

In other AmerisourceBergen news, EVP Gina Clark sold 16,027 shares of the company’s stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $125.83, for a total value of $2,016,677.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven H. Collis sold 11,664 shares of the company’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $124.66, for a total transaction of $1,454,034.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,699 shares of company stock worth $17,542,089. Company insiders own 28.40% of the company’s stock.

NYSE ABC traded down $0.22 on Thursday, reaching $123.44. The company’s stock had a trading volume of 577,037 shares, compared to its average volume of 986,460. The firm has a market cap of $25.65 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.00 and a beta of 0.49. The business has a 50-day moving average price of $122.30 and a 200 day moving average price of $119.99. AmerisourceBergen Co. has a 52 week low of $94.89 and a 52 week high of $129.54. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 10.92.

AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, November 4th. The company reported $2.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.03. The business had revenue of $58.90 billion for the quarter, compared to analysts’ expectations of $57.05 billion. AmerisourceBergen had a net margin of 0.72% and a return on equity of 2,040.08%. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Analysts anticipate that AmerisourceBergen Co. will post 10.68 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 29th. Shareholders of record on Monday, November 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, November 12th. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 1.49%. AmerisourceBergen’s payout ratio is 24.90%.

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of AmerisourceBergen from $138.00 to $141.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 31st. Robert W. Baird boosted their price objective on shares of AmerisourceBergen from $156.00 to $162.00 and gave the stock an “outperform” rating in a report on Thursday, August 5th. They noted that the move was a valuation call. Barclays boosted their price objective on shares of AmerisourceBergen from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, November 5th. TheStreet upgraded shares of AmerisourceBergen from a “d” rating to an “a-” rating in a report on Thursday, November 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AmerisourceBergen from $136.00 to $153.00 and gave the stock a “hold” rating in a report on Friday, November 12th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, AmerisourceBergen currently has an average rating of “Buy” and an average target price of $139.00.

AmerisourceBergen Profile

AmerisourceBergen Corp. engages provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name; specialty brand-name and generic pharmaceuticals; over-the-counter healthcare products; home healthcare supplies and equipment; and related services to healthcare providers, including acute care hospitals and health systems; independent and chain retail pharmacies; mail order pharmacies; medical clinics; and long-term care and alternate site pharmacies.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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