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Sumitomo Mitsui DS Asset Management Company Ltd Has $1.52 Million Stock Position in AmerisourceBergen Co. (NYSE:ABC)

Defense World ·  Sep 24, 2022 07:01

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,773 shares of the company's stock after acquiring an additional 1,285 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in AmerisourceBergen were worth $1,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Everhart Financial Group Inc. acquired a new stake in shares of AmerisourceBergen in the second quarter valued at about $212,000. Polaris Wealth Advisory Group LLC acquired a new position in AmerisourceBergen during the second quarter worth approximately $5,688,000. Archford Capital Strategies LLC increased its position in AmerisourceBergen by 7.1% during the second quarter. Archford Capital Strategies LLC now owns 14,657 shares of the company's stock worth $2,074,000 after buying an additional 977 shares during the last quarter. Symmetry Partners LLC increased its position in AmerisourceBergen by 95.1% during the second quarter. Symmetry Partners LLC now owns 8,074 shares of the company's stock worth $1,142,000 after buying an additional 3,935 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new position in AmerisourceBergen during the second quarter worth approximately $52,553,000. Institutional investors and hedge funds own 64.17% of the company's stock.

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Insider Buying and Selling at AmerisourceBergen

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of the business's stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $144.25, for a total transaction of $1,655,990.00. Following the completion of the transaction, the chief executive officer now directly owns 205,178 shares in the company, valued at $29,596,926.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 34,440 shares of company stock worth $4,924,920 over the last three months. Corporate insiders own 28.40% of the company's stock.

Wall Street Analysts Forecast Growth

ABC has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on AmerisourceBergen from $175.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Monday, August 22nd. Deutsche Bank Aktiengesellschaft upgraded AmerisourceBergen from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $167.00 to $178.00 in a report on Tuesday, June 7th. Argus boosted their price objective on AmerisourceBergen from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, July 20th. Credit Suisse Group reduced their price objective on AmerisourceBergen from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Thursday, August 4th. Finally, Evercore ISI reduced their price objective on AmerisourceBergen to $165.00 in a report on Friday, June 3rd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AmerisourceBergen presently has a consensus rating of "Moderate Buy" and a consensus target price of $173.55.

AmerisourceBergen Trading Down 2.0 %

Shares of ABC stock opened at $137.20 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.55 and a debt-to-equity ratio of 8.96. The stock has a market cap of $28.44 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.54 and a beta of 0.46. The stock has a 50 day simple moving average of $144.92 and a 200 day simple moving average of $149.05. AmerisourceBergen Co. has a 1 year low of $113.68 and a 1 year high of $167.19.

AmerisourceBergen (NYSE:ABC – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.06. The business had revenue of $60.06 billion during the quarter, compared to analysts' expectations of $59.03 billion. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. On average, research analysts predict that AmerisourceBergen Co. will post 11 earnings per share for the current fiscal year.

AmerisourceBergen Dividend Announcement

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

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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