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Alera Investment Advisors LLC Takes $672,000 Position in AmerisourceBergen Co. (NYSE:ABC)

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Alera Investment Advisors LLC purchased a new position in shares of AmerisourceBergen Co. (NYSE:ABC – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,342 shares of the company's stock, valued at approximately $672,000.

A number of other hedge funds have also recently added to or reduced their stakes in ABC. Northwestern Mutual Wealth Management Co. increased its position in shares of AmerisourceBergen by 22.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,814 shares of the company's stock valued at $906,000 after buying an additional 1,269 shares in the last quarter. Daiwa Securities Group Inc. raised its position in AmerisourceBergen by 4.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,209 shares of the company's stock worth $1,224,000 after acquiring an additional 368 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of AmerisourceBergen by 0.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 19,790 shares of the company's stock valued at $2,630,000 after purchasing an additional 136 shares in the last quarter. Advisor Group Holdings Inc. grew its position in shares of AmerisourceBergen by 5.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 70,983 shares of the company's stock valued at $9,433,000 after purchasing an additional 3,981 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in AmerisourceBergen by 8.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,801 shares of the company's stock valued at $3,960,000 after buying an additional 2,310 shares in the last quarter. Institutional investors and hedge funds own 64.17% of the company's stock.

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AmerisourceBergen Trading Up 1.5 %

NYSE ABC opened at $150.50 on Monday. The firm has a market capitalization of $31.52 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.67 and a beta of 0.48. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.55 and a current ratio of 0.92. AmerisourceBergen Co. has a one year low of $113.68 and a one year high of $167.19. The company's 50 day moving average price is $143.29 and its 200 day moving average price is $148.09.

AmerisourceBergen (NYSE:ABC – Get Rating) last issued its earnings results on Wednesday, August 3rd. The company reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.06. AmerisourceBergen had a net margin of 0.78% and a return on equity of 350.60%. The business had revenue of $60.06 billion for the quarter, compared to the consensus estimate of $59.03 billion. During the same quarter last year, the firm posted $2.16 EPS. The business's revenue for the quarter was up 12.5% compared to the same quarter last year. On average, sell-side analysts predict that AmerisourceBergen Co. will post 10.99 EPS for the current year.

AmerisourceBergen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be given 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 dividend yield of 1.22%. AmerisourceBergen's payout ratio is currently 21.10%.

Insider Activity

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of the business's stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $141.22, for a total value of $1,621,205.60. Following the transaction, the chief executive officer now owns 205,178 shares in the company, valued at approximately $28,975,237.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 34,440 shares of company stock worth $4,911,374. 28.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABC. Argus upped their price objective on AmerisourceBergen from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, July 20th. Cowen lowered their price target on shares of AmerisourceBergen from $171.00 to $170.00 in a report on Thursday, June 9th. Morgan Stanley lowered their target price on shares of AmerisourceBergen from $178.00 to $175.00 and set an "equal weight" rating for the company in a research note on Friday, May 27th. Evercore ISI lowered their price objective on AmerisourceBergen to $165.00 in a research report on Friday, June 3rd. Finally, Barclays upgraded AmerisourceBergen from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $182.00 in a research report on Thursday, May 26th. Three equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $173.45.

AmerisourceBergen 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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