Integrated Wealth Concepts LLC Buys 431 Shares of AmerisourceBergen Co. (NYSE:ABC)

Posted by Defense World Staff on Jun 10th, 2023

Integrated Wealth Concepts LLC lifted its stake in shares of AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 10.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,492 shares of the company’s stock after acquiring an additional 431 shares during the period. Integrated Wealth Concepts LLC’s holdings in AmerisourceBergen were worth $744,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABC. Edmp Inc. grew its holdings in shares of AmerisourceBergen by 16,285.3% during the 4th quarter. Edmp Inc. now owns 2,295,746 shares of the company’s stock valued at $13,854,000 after purchasing an additional 2,281,735 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of AmerisourceBergen by 7.4% during the first quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company’s stock valued at $2,848,446,000 after buying an additional 1,269,147 shares during the last quarter. Invesco Ltd. increased its holdings in shares of AmerisourceBergen by 42.3% in the first quarter. Invesco Ltd. now owns 2,079,491 shares of the company’s stock worth $321,717,000 after buying an additional 618,248 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of AmerisourceBergen by 266.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 425,810 shares of the company’s stock valued at $65,877,000 after acquiring an additional 309,646 shares during the last quarter. Finally, UBS Group AG boosted its holdings in AmerisourceBergen by 145.0% during the 4th quarter. UBS Group AG now owns 476,684 shares of the company’s stock valued at $78,991,000 after acquiring an additional 282,081 shares during the period. Institutional investors own 84.79% of the company’s stock.

AmerisourceBergen Stock Up 1.0 %

Shares of AmerisourceBergen stock opened at $178.22 on Friday. AmerisourceBergen Co. has a 1 year low of $135.14 and a 1 year high of $178.27. The firm has a market cap of $36.08 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 1.65 and a beta of 0.53. The company has a 50-day moving average of $169.29 and a 200 day moving average of $164.34. The company has a debt-to-equity ratio of 9.13, a current ratio of 0.89 and a quick ratio of 0.51.

AmerisourceBergen (NYSE:ABC – Get Rating) last announced its earnings results on Tuesday, May 2nd. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.29 by $0.21. AmerisourceBergen had a net margin of 0.65% and a return on equity of 809.53%. The business had revenue of $63.46 billion during the quarter, compared to the consensus estimate of $60.40 billion. During the same quarter last year, the firm earned $3.22 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts anticipate that AmerisourceBergen Co. will post 11.88 earnings per share for the current fiscal year.

AmerisourceBergen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Stockholders of record on Friday, May 12th were paid a $0.485 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.09%. AmerisourceBergen’s dividend payout ratio is currently 24.94%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ABC shares. TheStreet upgraded AmerisourceBergen from a “c” rating to a “b+” rating in a research report on Tuesday, May 2nd. Bank of America boosted their price objective on shares of AmerisourceBergen from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on AmerisourceBergen from $174.00 to $182.00 in a research note on Wednesday, May 3rd. Barclays upped their price target on AmerisourceBergen from $182.00 to $189.00 and gave the company an “overweight” rating in a research report on Wednesday, May 3rd. Finally, Citigroup initiated coverage on AmerisourceBergen in a research report on Friday, March 31st. They issued a “buy” rating and a $185.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AmerisourceBergen presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Insider Activity

In related news, CEO Steven H. Collis sold 10,499 shares of the stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $150.00, for a total transaction of $1,574,850.00. Following the sale, the chief executive officer now directly owns 257,967 shares of the company’s stock, valued at approximately $38,695,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Steven H. Collis sold 10,499 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $150.00, for a total value of $1,574,850.00. Following the transaction, the chief executive officer now owns 257,967 shares in the company, valued at $38,695,050. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 292,792 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $170.77, for a total transaction of $50,000,089.84. Following the sale, the insider now directly owns 33,366,388 shares of the company’s stock, valued at approximately $5,697,978,078.76. The disclosure for this sale can be found here. Insiders sold 324,289 shares of company stock worth $55,111,633 over the last three months. 20.10% of the stock is currently owned by corporate insiders.

AmerisourceBergen Profile

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AmerisourceBergen Corp. engages in the provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, and long-term care and alternate site pharmacies.