Mirae Asset Global Investments Co. Ltd. raised its stake in AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 25.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,808 shares of the company's stock after purchasing an additional 4,482 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in AmerisourceBergen were worth $3,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in AmerisourceBergen by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company's stock valued at $2,848,446,000 after purchasing an additional 1,269,147 shares in the last quarter. BlackRock Inc. raised its position in AmerisourceBergen by 26.2% in the 1st quarter. BlackRock Inc. now owns 16,455,417 shares of the company's stock valued at $2,545,819,000 after purchasing an additional 3,419,393 shares in the last quarter. State Street Corp raised its position in AmerisourceBergen by 1.8% in the 1st quarter. State Street Corp now owns 6,931,262 shares of the company's stock valued at $1,072,336,000 after purchasing an additional 123,695 shares in the last quarter. Boston Partners increased its holdings in shares of AmerisourceBergen by 0.4% in the 1st quarter. Boston Partners now owns 4,672,437 shares of the company's stock valued at $723,488,000 after acquiring an additional 18,023 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of AmerisourceBergen by 42.3% in the 1st quarter. Invesco Ltd. now owns 2,079,491 shares of the company's stock valued at $321,717,000 after acquiring an additional 618,248 shares during the last quarter. Institutional investors and hedge funds own 64.17% of the company's stock.

AmerisourceBergen Trading Down 2.0 %

NYSE:ABC opened at $137.20 on Friday. The stock's 50 day moving average price is $144.92 and its 200 day moving average price is $149.08. AmerisourceBergen Co. has a 52-week low of $113.68 and a 52-week high of $167.19. The company has a market capitalization of $28.44 billion, a PE ratio of 15.73, a P/E/G ratio of 1.55 and a beta of 0.46. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.84 annualized dividend and a dividend yield of 1.34%. AmerisourceBergen's dividend payout ratio (DPR) is currently 21.10%.

Wall Street Analysts Forecast Growth

ABC has been the topic of a number of recent analyst reports. Cowen dropped their price objective on AmerisourceBergen from $171.00 to $170.00 in a report on Thursday, June 9th. Evercore ISI dropped their price objective on AmerisourceBergen to $165.00 in a report on Friday, June 3rd. Cowen dropped their price objective on AmerisourceBergen from $171.00 to $170.00 and set an "outperform" rating on the stock in a report on Thursday, June 9th. Morgan Stanley increased their price objective on AmerisourceBergen from $175.00 to $176.00 and gave the company an "equal weight" rating in a report on Monday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft upgraded 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 report on Tuesday, June 7th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $173.55.

Insider Buying and Selling at AmerisourceBergen

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of AmerisourceBergen 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 in the company, valued at approximately $29,207,088.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 34,440 shares of company stock worth $4,924,920. 28.40% of the stock is currently owned by insiders.

AmerisourceBergen Company Profile

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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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