StockNews.com upgraded shares of AmerisourceBergen (NYSE:ABC – Get Rating) from a buy rating to a strong-buy rating in a report issued on Tuesday morning.

Several other brokerages have also weighed in on ABC. Deutsche Bank Aktiengesellschaft raised shares of AmerisourceBergen from a hold rating to a buy rating and increased their price objective for the company from $167.00 to $178.00 in a research report on Tuesday, June 7th. Evercore ISI dropped their price objective on shares of AmerisourceBergen to $165.00 in a research report on Friday, June 3rd. Argus increased their price objective on shares of AmerisourceBergen from $160.00 to $170.00 and gave the company a buy rating in a research report on Wednesday, July 20th. UBS Group raised their price target on shares of AmerisourceBergen from $144.00 to $174.00 and gave the stock a buy rating in a research report on Monday, June 13th. Finally, Morgan Stanley lowered their price target on shares of AmerisourceBergen from $178.00 to $175.00 and set an equal weight rating on the stock in a research report on Friday, May 27th. Three 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $173.45.

AmerisourceBergen Stock Performance

Shares of ABC stock opened at $148.22 on Tuesday. The stock has a market cap of $31.05 billion, a P/E ratio of 17.00, a P/E/G ratio of 1.60 and a beta of 0.48. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.92 and a quick ratio of 0.55. The company has a fifty day moving average price of $143.22 and a two-hundred day moving average price of $147.71. AmerisourceBergen has a one year low of $113.68 and a one year high of $167.19.

AmerisourceBergen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Monday, August 15th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.84 dividend on an annualized basis and a yield of 1.24%. AmerisourceBergen's payout ratio is 21.10%.

Insiders Place Their Bets

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of the stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $142.35, for a total transaction of $1,634,178.00. Following the sale, the chief executive officer now directly owns 205,178 shares in the company, valued at $29,207,088.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 34,440 shares of company stock worth $4,911,374 over the last ninety days. Corporate insiders own 28.40% of the company's stock.

Institutional Investors Weigh In On AmerisourceBergen

A number of hedge funds have recently made changes to their positions in ABC. Crewe Advisors LLC acquired a new stake in shares of AmerisourceBergen in the 2nd quarter valued at approximately $29,000. Herold Advisors Inc. acquired a new stake in shares of AmerisourceBergen in the 1st quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of AmerisourceBergen by 133.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company's stock valued at $32,000 after purchasing an additional 120 shares in the last quarter. Cassady Schiller Wealth Management LLC acquired a new stake in AmerisourceBergen during the 4th quarter worth approximately $33,000. Finally, EverSource Wealth Advisors LLC boosted its position in AmerisourceBergen by 1,078.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company's stock worth $35,000 after buying an additional 205 shares during the period. 64.17% of the stock is currently owned by institutional investors and hedge funds.

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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