Federated Hermes Inc. Buys 40,135 Shares of AmerisourceBergen Co. (NYSE:ABC)

Posted by Defense World Staff on Aug 13th, 2023

Federated Hermes Inc. boosted its stake in shares of AmerisourceBergen Co. (NYSE:ABC – Free Report) by 119.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 73,635 shares of the company’s stock after buying an additional 40,135 shares during the period. Federated Hermes Inc.’s holdings in AmerisourceBergen were worth $11,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Compagnie Lombard Odier SCmA bought a new stake in shares of AmerisourceBergen in the 4th quarter worth about $39,000. MBM Wealth Consultants LLC purchased a new stake in shares of AmerisourceBergen in the fourth quarter worth approximately $41,000. Dupont Capital Management Corp lifted its stake in shares of AmerisourceBergen by 83.0% during the 4th quarter. Dupont Capital Management Corp now owns 269 shares of the company’s stock worth $45,000 after acquiring an additional 122 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in AmerisourceBergen during the 4th quarter valued at $46,000. Finally, Lindbrook Capital LLC grew its position in AmerisourceBergen by 76.3% in the 1st quarter. Lindbrook Capital LLC now owns 298 shares of the company’s stock valued at $48,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Transactions at AmerisourceBergen

In related news, EVP Gina Clark sold 27,542 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $186.84, for a total value of $5,145,947.28. Following the completion of the transaction, the executive vice president now directly owns 26,733 shares of the company’s stock, valued at approximately $4,994,793.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,320,858 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $189.27, for a total value of $249,998,793.66. Following the transaction, the insider now directly owns 31,769,546 shares of the company’s stock, valued at $6,013,021,971.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gina Clark sold 27,542 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $186.84, for a total value of $5,145,947.28. Following the completion of the transaction, the executive vice president now owns 26,733 shares of the company’s stock, valued at $4,994,793.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,655,881 shares of company stock worth $310,997,955. Insiders own 20.10% of the company’s stock.

AmerisourceBergen Stock Up 0.2 %

Shares of AmerisourceBergen stock opened at $187.37 on Friday. AmerisourceBergen Co. has a 52-week low of $135.14 and a 52-week high of $194.79. The firm’s 50 day moving average price is $187.14 and its 200-day moving average price is $171.15. The company has a quick ratio of 0.52, a current ratio of 0.88 and a debt-to-equity ratio of 4.51. The company has a market cap of $37.88 billion, a P/E ratio of 22.82, a PEG ratio of 1.86 and a beta of 0.56.

AmerisourceBergen (NYSE:ABC – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.09. The business had revenue of $66.95 billion for the quarter, compared to the consensus estimate of $63.93 billion. AmerisourceBergen had a return on equity of 612.69% and a net margin of 0.66%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.62 earnings per share. On average, sell-side analysts predict that AmerisourceBergen Co. will post 11.92 EPS for the current fiscal year.

AmerisourceBergen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Friday, August 11th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, August 10th. AmerisourceBergen’s dividend payout ratio is presently 23.63%.

Wall Street Analysts Forecast Growth

ABC has been the subject of several research analyst reports. TD Cowen lifted their target price on AmerisourceBergen from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. TheStreet upgraded shares of AmerisourceBergen from a “c” rating to a “b+” rating in a research note on Tuesday, May 2nd. StockNews.com initiated coverage on shares of AmerisourceBergen in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company. Barclays increased their price objective on AmerisourceBergen from $182.00 to $189.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 3rd. Finally, 888 reaffirmed a “maintains” rating on shares of AmerisourceBergen in a research report on Friday, May 26th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AmerisourceBergen has an average rating of “Moderate Buy” and a consensus target price of $189.36.

Get Our Latest Report on ABC

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.