Tiaa Fsb Has $288,000 Holdings in AmerisourceBergen Co. (NYSE:ABC)

Posted by Defense World Staff on Jul 4th, 2023

Tiaa Fsb lessened its stake in AmerisourceBergen Co. (NYSE:ABC – Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,797 shares of the company’s stock after selling 180 shares during the quarter. Tiaa Fsb’s holdings in AmerisourceBergen were worth $288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RFP Financial Group LLC acquired a new position in shares of AmerisourceBergen in the fourth quarter valued at approximately $25,000. Boyd Watterson Asset Management LLC OH acquired a new position in shares of AmerisourceBergen in the fourth quarter valued at approximately $29,000. Compagnie Lombard Odier SCmA acquired a new position in AmerisourceBergen during the fourth quarter worth $39,000. Iron Horse Wealth Management LLC acquired a new position in AmerisourceBergen during the fourth quarter worth $41,000. Finally, MBM Wealth Consultants LLC acquired a new position in AmerisourceBergen during the fourth quarter worth $41,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

AmerisourceBergen Price Performance

Shares of ABC opened at $190.92 on Tuesday. The firm has a market capitalization of $38.66 billion, a PE ratio of 24.54, a PEG ratio of 1.83 and a beta of 0.56. The company’s 50-day moving average is $175.58 and its 200-day moving average is $166.29. AmerisourceBergen Co. has a fifty-two week low of $135.14 and a fifty-two week high of $193.43. 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 – Free Report) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.29 by $0.21. AmerisourceBergen had a net margin of 0.65% and a return on equity of 809.53%. The company had revenue of $63.46 billion for the quarter, compared to analyst estimates of $60.40 billion. During the same period in the prior year, the firm earned $3.22 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Equities analysts forecast that AmerisourceBergen Co. will post 11.88 EPS for the current year.

AmerisourceBergen Dividend Announcement

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

Insiders Place Their Bets

In other AmerisourceBergen news, CEO Steven H. Collis sold 10,499 shares of AmerisourceBergen stock in a transaction dated 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 sale, the chief executive officer now owns 257,967 shares in the company, valued at approximately $43,730,565.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other AmerisourceBergen news, CEO Steven H. Collis sold 10,499 shares of AmerisourceBergen stock in a transaction dated 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 sale, the chief executive officer now owns 257,967 shares in the company, valued at approximately $43,730,565.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gina Clark sold 27,542 shares of AmerisourceBergen stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $186.84, for a total transaction of $5,145,947.28. Following the completion of the sale, the executive vice president now owns 26,733 shares of the company’s stock, valued at approximately $4,994,793.72. The disclosure for this sale can be found here. Insiders sold 627,815 shares of company stock worth $110,556,193 in the last quarter. 20.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays increased their target price on shares of AmerisourceBergen from $182.00 to $189.00 and gave the stock an “overweight” rating in a report on Wednesday, May 3rd. StockNews.com assumed coverage on shares of AmerisourceBergen in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of AmerisourceBergen from $174.00 to $182.00 in a report on Wednesday, May 3rd. Mizuho increased their target price on shares of AmerisourceBergen from $170.00 to $174.00 in a report on Wednesday, May 3rd. Finally, TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b+” rating in a research report on Tuesday, May 2nd. 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’s stock. According to MarketBeat, AmerisourceBergen currently has a consensus rating of “Moderate Buy” and an average price target of $184.00.

About AmerisourceBergen

(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.