Public Employees Retirement Association of Colorado Has $2.83 Million Holdings in AmerisourceBergen Corp. (ABC)
Public Employees Retirement Association of Colorado raised its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 3.4% in the 4th quarter, Holdings Channel reports. The fund owned 30,862 shares of the company’s stock after acquiring an additional 1,012 shares during the period. Public Employees Retirement Association of Colorado’s holdings in AmerisourceBergen were worth $2,834,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Vantage Investment Advisors LLC acquired a new position in AmerisourceBergen in the 4th quarter valued at $156,000. Intl Fcstone Inc. acquired a new position in AmerisourceBergen in the 2nd quarter valued at $201,000. TRUE Private Wealth Advisors acquired a new position in AmerisourceBergen in the 4th quarter valued at $203,000. Zeke Capital Advisors LLC acquired a new position in AmerisourceBergen in the 3rd quarter valued at $210,000. Finally, Roberts Glore & Co. Inc. IL acquired a new position in AmerisourceBergen in the 3rd quarter valued at $219,000. Institutional investors own 66.84% of the company’s stock.
Shares of AmerisourceBergen Corp. (ABC) opened at $89.45 on Tuesday. AmerisourceBergen Corp. has a 12 month low of $71.90 and a 12 month high of $106.27. The stock has a market cap of $19,592.28, a price-to-earnings ratio of 19.28, a PEG ratio of 1.43 and a beta of 1.02. The company has a current ratio of 0.95, a quick ratio of 0.50 and a debt-to-equity ratio of 1.61.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. AmerisourceBergen’s dividend payout ratio (DPR) is 32.76%.
In related news, SVP Lazarus Krikorian sold 16,427 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the completion of the sale, the senior vice president now directly owns 23,360 shares of the company’s stock, valued at approximately $1,982,329.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dale Danilewitz sold 4,459 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $78.30, for a total transaction of $349,139.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 203,077 shares of company stock valued at $18,288,730. 27.30% of the stock is owned by corporate insiders.
Several brokerages have weighed in on ABC. Jefferies Group set a $95.00 price target on AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, February 7th. TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Thursday, February 8th. Needham & Company LLC lowered their price objective on shares of AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $112.00 price objective (up from $105.00) on shares of AmerisourceBergen in a research note on Wednesday, February 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.17.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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