AmerisourceBergen Corp. (ABC) Position Raised by Boltwood Capital Management

Boltwood Capital Management increased its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 68.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,336 shares of the company’s stock after purchasing an additional 3,400 shares during the period. Boltwood Capital Management’s holdings in AmerisourceBergen were worth $663,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in AmerisourceBergen by 69.2% during the fourth quarter. Deutsche Bank AG now owns 788,997 shares of the company’s stock worth $58,697,000 after buying an additional 322,821 shares during the period. Machina Capital S.A.S. purchased a new stake in shares of AmerisourceBergen during the 4th quarter worth $275,000. Norges Bank purchased a new stake in shares of AmerisourceBergen during the 4th quarter worth $103,863,000. Foster Victor Wealth Advisors LLC purchased a new stake in shares of AmerisourceBergen during the 4th quarter worth $614,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of AmerisourceBergen by 48.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,877 shares of the company’s stock worth $140,000 after buying an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 66.48% of the company’s stock.

In related news, CEO Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $73.96, for a total transaction of $1,579,046.00. Following the completion of the transaction, the chief executive officer now owns 155,929 shares of the company’s stock, valued at $11,532,508.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 21,344 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $83.62, for a total value of $1,784,785.28. Following the transaction, the chief executive officer now directly owns 155,923 shares of the company’s stock, valued at approximately $13,038,281.26. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,018 shares of company stock valued at $156,471 and sold 110,411 shares valued at $8,978,127. Insiders own 27.80% of the company’s stock.

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of AmerisourceBergen from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Monday, December 3rd. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Friday, March 8th. Barclays reiterated a “hold” rating and issued a $84.00 price objective on shares of AmerisourceBergen in a research report on Sunday, January 6th. TheStreet lowered shares of AmerisourceBergen from a “b” rating to a “c+” rating in a research report on Tuesday, March 19th. Finally, ValuEngine lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $88.33.

Shares of ABC stock opened at $79.09 on Tuesday. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $95.00. The stock has a market capitalization of $16.79 billion, a P/E ratio of 12.19, a PEG ratio of 1.46 and a beta of 1.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.94 and a quick ratio of 0.53.

AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, January 31st. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.10. AmerisourceBergen had a net margin of 0.69% and a return on equity of 44.53%. The firm had revenue of $45.39 billion during the quarter, compared to the consensus estimate of $43.52 billion. On average, analysts expect that AmerisourceBergen Corp. will post 6.76 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Tuesday, February 19th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Friday, February 15th. AmerisourceBergen’s payout ratio is 24.65%.

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AmerisourceBergen Company Profile

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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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