Nuveen Asset Management LLC lessened its stake in AmerisourceBergen Corp. (NYSE:ABC) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 713,417 shares of the company’s stock after selling 76,182 shares during the period. Nuveen Asset Management LLC’s holdings in AmerisourceBergen were worth $71,891,000 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. Cambridge Investment Research Advisors Inc. increased its position in shares of AmerisourceBergen by 6.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 40,428 shares of the company’s stock worth $3,578,000 after acquiring an additional 2,464 shares during the period. Swiss National Bank increased its holdings in AmerisourceBergen by 21.7% during the 1st quarter. Swiss National Bank now owns 599,484 shares of the company’s stock worth $53,054,000 after purchasing an additional 106,700 shares during the period. ETRADE Capital Management LLC bought a new stake in AmerisourceBergen during the 1st quarter valued at $590,000. Commerce Bank lifted its holdings in shares of AmerisourceBergen by 7.1% in the 1st quarter. Commerce Bank now owns 12,843 shares of the company’s stock worth $1,136,000 after buying an additional 853 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its position in shares of AmerisourceBergen by 33.9% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 7,819 shares of the company’s stock worth $692,000 after buying an additional 1,980 shares in the last quarter. Institutional investors own 64.09% of the company’s stock.
Shares of ABC opened at $96.83 on Friday. The company has a 50 day moving average of $99.11 and a two-hundred day moving average of $93.91. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.91. AmerisourceBergen Corp. has a twelve month low of $72.06 and a twelve month high of $106.45. The company has a market cap of $19.77 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.55.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.73%. The ex-dividend date was Friday, August 14th. AmerisourceBergen’s dividend payout ratio is presently 23.70%.
Several research firms recently weighed in on ABC. Morgan Stanley lifted their price objective on AmerisourceBergen from $112.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Bank of America boosted their price target on shares of AmerisourceBergen from $85.00 to $88.00 and gave the company an “underperform” rating in a report on Tuesday, July 21st. Credit Suisse Group increased their price objective on shares of AmerisourceBergen from $111.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. UBS Group lifted their price objective on shares of AmerisourceBergen from $99.00 to $112.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, ValuEngine upgraded AmerisourceBergen from a “strong sell” rating to a “sell” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. AmerisourceBergen currently has a consensus rating of “Hold” and a consensus price target of $105.80.
In other news, CEO Steven H. Collis sold 19,904 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.59, for a total transaction of $2,002,143.36. Following the sale, the chief executive officer now directly owns 162,026 shares of the company’s stock, valued at $16,298,195.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gina Clark sold 3,098 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $100.47, for a total value of $311,256.06. Following the completion of the transaction, the executive vice president now directly owns 16,667 shares in the company, valued at $1,674,533.49. The disclosure for this sale can be found here. Insiders have sold 47,827 shares of company stock worth $4,812,297 in the last 90 days. Insiders own 28.30% of the company’s stock.
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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