Baupost Group LLC MA boosted its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 46.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,751,056 shares of the company’s stock after buying an additional 877,491 shares during the period. AmerisourceBergen accounts for approximately 1.9% of Baupost Group LLC MA’s holdings, making the stock its 18th largest holding. Baupost Group LLC MA owned approximately 1.27% of AmerisourceBergen worth $253,702,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Hallmark Capital Management Inc. lifted its stake in shares of AmerisourceBergen by 0.3% in the 3rd quarter. Hallmark Capital Management Inc. now owns 176,274 shares of the company’s stock valued at $16,256,000 after purchasing an additional 600 shares in the last quarter. Financial Gravity Wealth Inc. lifted its position in AmerisourceBergen by 93.2% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock worth $108,000 after acquiring an additional 605 shares in the last quarter. Elmwood Wealth Management Inc. lifted its position in AmerisourceBergen by 8.9% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,533 shares of the company’s stock worth $695,000 after acquiring an additional 618 shares in the last quarter. Parsons Capital Management Inc. RI lifted its position in AmerisourceBergen by 5.7% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 11,609 shares of the company’s stock worth $990,000 after acquiring an additional 621 shares in the last quarter. Finally, S&T Bank PA lifted its position in AmerisourceBergen by 0.8% during the 3rd quarter. S&T Bank PA now owns 85,177 shares of the company’s stock worth $7,855,000 after acquiring an additional 667 shares in the last quarter. 64.58% of the stock is currently owned by hedge funds and other institutional investors.
ABC stock opened at $89.02 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.50 and a debt-to-equity ratio of 1.48. AmerisourceBergen Corp. has a 52-week low of $77.28 and a 52-week high of $106.27. The company has a market cap of $18.84 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Monday, November 19th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 16th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 1.80%. AmerisourceBergen’s payout ratio is currently 24.65%.
In other AmerisourceBergen news, EVP Gina Clark sold 29,549 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $88.33, for a total transaction of $2,610,063.17. Following the sale, the executive vice president now directly owns 45,344 shares in the company, valued at approximately $4,005,235.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Chou sold 6,974 shares of AmerisourceBergen stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $86.19, for a total value of $601,089.06. Following the sale, the insider now owns 56,125 shares in the company, valued at $4,837,413.75. The disclosure for this sale can be found here. Insiders have sold a total of 121,403 shares of company stock worth $10,928,342 over the last 90 days. 27.30% of the stock is owned by company insiders.
Several research firms recently commented on ABC. Zacks Investment Research raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. Royal Bank of Canada reduced their price target on AmerisourceBergen from $90.00 to $87.00 and set a “hold” rating on the stock in a research report on Friday. Morgan Stanley boosted their price target on AmerisourceBergen from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Monday. Mizuho reissued a “hold” rating and set a $90.00 price target on shares of AmerisourceBergen in a research report on Sunday, August 12th. Finally, ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $101.07.
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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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