Czech National Bank Raises Holdings in AmerisourceBergen Co. (NYSE:ABC)

Posted by Defense World Staff on Jun 29th, 2023

Czech National Bank increased its stake in shares of AmerisourceBergen Co. (NYSE:ABC – Free Report) by 0.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 19,056 shares of the company’s stock after purchasing an additional 99 shares during the period. Czech National Bank’s holdings in AmerisourceBergen were worth $3,051,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABC. United Bank lifted its holdings in AmerisourceBergen by 16.6% during the 1st quarter. United Bank now owns 3,632 shares of the company’s stock worth $562,000 after purchasing an additional 518 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in AmerisourceBergen by 29.9% during the 1st quarter. Raymond James Trust N.A. now owns 5,193 shares of the company’s stock worth $803,000 after purchasing an additional 1,194 shares in the last quarter. Synovus Financial Corp lifted its holdings in AmerisourceBergen by 123.4% during the 1st quarter. Synovus Financial Corp now owns 6,301 shares of the company’s stock worth $975,000 after purchasing an additional 3,480 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in AmerisourceBergen by 22.5% during the 1st quarter. Vontobel Holding Ltd. now owns 2,767 shares of the company’s stock worth $430,000 after purchasing an additional 508 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in AmerisourceBergen by 12.4% during the 1st quarter. Blair William & Co. IL now owns 8,124 shares of the company’s stock worth $1,257,000 after purchasing an additional 899 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insiders Place Their Bets

In other AmerisourceBergen news, major shareholder Walgreens Boots Alliance, Inc. sold 292,792 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $170.77, for a total value of $50,000,089.84. Following the completion of the sale, the insider now owns 33,366,388 shares in the company, valued at approximately $5,697,978,078.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, 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 stock was sold at an average price of $170.77, for a total value of $50,000,089.84. Following the completion of the transaction, the insider now owns 33,366,388 shares in the company, valued at approximately $5,697,978,078.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven H. Collis sold 10,499 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $169.52, for a total value of $1,779,790.48. Following the completion of the transaction, the chief executive officer now owns 257,967 shares of the company’s stock, valued at approximately $43,730,565.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 627,815 shares of company stock worth $110,556,193. 20.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ABC shares. Mizuho upped their target price on AmerisourceBergen from $170.00 to $174.00 in a research note on Wednesday, May 3rd. Citigroup started coverage on AmerisourceBergen in a research note on Friday, March 31st. They issued a “buy” rating and a $185.00 target price on the stock. 888 restated a “maintains” rating on shares of AmerisourceBergen in a research note on Friday, May 26th. Bank of America upped their target price on AmerisourceBergen from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, June 7th. Finally, TheStreet upgraded AmerisourceBergen from a “c” rating to a “b+” rating in a research note on Tuesday, May 2nd. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $184.00.

AmerisourceBergen Price Performance

ABC opened at $189.78 on Thursday. The stock’s 50 day simple moving average is $174.11 and its 200 day simple moving average is $165.75. 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 Co. has a 1 year low of $135.14 and a 1 year high of $190.26. The firm has a market cap of $38.42 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.78 and a beta of 0.53.

AmerisourceBergen (NYSE:ABC – Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.29 by $0.21. AmerisourceBergen had a return on equity of 809.53% and a net margin of 0.65%. The business had revenue of $63.46 billion for the quarter, compared to analyst estimates of $60.40 billion. During the same period last year, the company earned $3.22 EPS. AmerisourceBergen’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts predict that AmerisourceBergen Co. will post 11.88 earnings per share for the current year.

AmerisourceBergen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 30th. Shareholders of record on Friday, May 12th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, May 11th. AmerisourceBergen’s dividend payout ratio (DPR) is currently 24.94%.

AmerisourceBergen Company Profile

(Free Report)

AmerisourceBergen Corporation sources and distributes pharmaceutical products. Its U.S. Healthcare Solutions segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to 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.