Shell Asset Management Co. Increases Stake in AmerisourceBergen Corp. (ABC)

Shell Asset Management Co. grew its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 16.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,516 shares of the company’s stock after buying an additional 1,781 shares during the period. Shell Asset Management Co.’s holdings in AmerisourceBergen were worth $1,154,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of AmerisourceBergen by 140.9% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock valued at $105,000 after buying an additional 668 shares in the last quarter. Financial Gravity Wealth Inc. boosted its holdings in shares of AmerisourceBergen by 93.2% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock valued at $108,000 after buying an additional 605 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of AmerisourceBergen during the 3rd quarter valued at $120,000. Centaurus Financial Inc. bought a new stake in shares of AmerisourceBergen during the 2nd quarter valued at $129,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of AmerisourceBergen during the 3rd quarter valued at $130,000. Hedge funds and other institutional investors own 64.58% of the company’s stock.

In other news, insider Kathy H. Gaddes sold 2,652 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $90.54, for a total transaction of $240,112.08. Following the completion of the sale, the insider now owns 4,591 shares of the company’s stock, valued at approximately $415,669.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Chou sold 6,974 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $86.19, for a total transaction of $601,089.06. Following the sale, the insider now directly owns 56,125 shares of the company’s stock, valued at approximately $4,837,413.75. The disclosure for this sale can be found here. In the last three months, insiders sold 121,403 shares of company stock valued at $10,928,342. 27.30% of the stock is owned by insiders.

A number of analysts have recently commented on ABC shares. Mizuho restated a “hold” rating and set a $90.00 target price on shares of AmerisourceBergen in a report on Sunday, August 12th. ValuEngine upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Royal Bank of Canada set a $90.00 target price on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, November 7th. Finally, Morgan Stanley set a $91.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $101.07.

ABC opened at $89.02 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.93 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $18.84 billion, a PE ratio of 13.72, a P/E/G ratio of 1.33 and a beta of 0.94. AmerisourceBergen Corp. has a 1 year low of $77.28 and a 1 year high of $106.27.

AmerisourceBergen (NYSE:ABC) last issued its earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.01. AmerisourceBergen had a return on equity of 45.54% and a net margin of 0.99%. The business had revenue of $43.30 billion during the quarter, compared to analyst estimates of $43.27 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. AmerisourceBergen’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast that AmerisourceBergen Corp. will post 6.81 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Monday, November 19th were given a $0.40 dividend. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, November 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.80%. AmerisourceBergen’s payout ratio is 24.65%.

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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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