Van ECK Associates Corp Has $25.14 Million Holdings in AmerisourceBergen Co. (NYSE:ABC)

Van ECK Associates Corp lowered its stake in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 11.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 162,469 shares of the company’s stock after selling 20,943 shares during the period. Van ECK Associates Corp’s holdings in AmerisourceBergen were worth $25,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABC. BlackRock Inc. lifted its position in shares of AmerisourceBergen by 18.3% in the fourth quarter. BlackRock Inc. now owns 13,036,024 shares of the company’s stock worth $1,732,356,000 after buying an additional 2,016,216 shares during the last quarter. Norges Bank acquired a new stake in shares of AmerisourceBergen in the fourth quarter worth about $188,449,000. American Century Companies Inc. lifted its position in shares of AmerisourceBergen by 20,595.2% in the fourth quarter. American Century Companies Inc. now owns 846,847 shares of the company’s stock worth $112,537,000 after buying an additional 842,755 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of AmerisourceBergen by 104.6% in the first quarter. Envestnet Asset Management Inc. now owns 897,803 shares of the company’s stock worth $138,899,000 after buying an additional 459,018 shares during the last quarter. Finally, State Street Corp lifted its position in shares of AmerisourceBergen by 5.2% in the fourth quarter. State Street Corp now owns 6,807,567 shares of the company’s stock worth $904,658,000 after buying an additional 338,819 shares during the last quarter. Institutional investors and hedge funds own 64.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Evercore ISI dropped their price objective on AmerisourceBergen to $165.00 in a research note on Friday, June 3rd. Argus lifted their price objective on AmerisourceBergen from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Credit Suisse Group dropped their price objective on AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Thursday, August 4th. UBS Group lifted their price objective on AmerisourceBergen from $144.00 to $174.00 and gave the stock a “buy” rating in a research note on Monday, June 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $167.00 to $178.00 in a research note on Tuesday, June 7th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.45.

AmerisourceBergen Trading Up 1.2 %

Shares of ABC opened at $152.66 on Wednesday. AmerisourceBergen Co. has a 12-month low of $113.68 and a 12-month high of $167.19. The firm has a market capitalization of $31.98 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 1.67 and a beta of 0.48. The stock’s 50-day moving average price is $143.37 and its 200 day moving average price is $148.20. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt-to-equity ratio of 8.96.

AmerisourceBergen (NYSE:ABCGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.06. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The company had revenue of $60.06 billion for the quarter, compared to analyst estimates of $59.03 billion. During the same period in the prior year, the company posted $2.16 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. As a group, research analysts predict that AmerisourceBergen Co. will post 10.99 earnings per share for the current year.

AmerisourceBergen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.84 annualized dividend and a dividend yield of 1.21%. AmerisourceBergen’s dividend payout ratio is currently 21.10%.

Insider Activity

In other news, CEO Steven H. Collis sold 11,480 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $142.35, for a total value of $1,634,178.00. Following the transaction, the chief executive officer now directly owns 205,178 shares of the company’s stock, valued at approximately $29,207,088.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 34,440 shares of company stock worth $4,911,374. Company insiders own 28.80% of the company’s stock.

About AmerisourceBergen

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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, 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 alternate site pharmacies, and other customers.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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