Johnson Investment Counsel Inc. Has $1.85 Million Holdings in AmerisourceBergen Co. (NYSE:ABC)

Johnson Investment Counsel Inc. lessened its stake in AmerisourceBergen Co. (NYSE:ABC) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,154 shares of the company’s stock after selling 1,117 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in AmerisourceBergen were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ironwood Wealth Management LLC. grew its position in shares of AmerisourceBergen by 12.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 11,269 shares of the company’s stock worth $1,331,000 after buying an additional 1,243 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of AmerisourceBergen by 283.1% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,628 shares of the company’s stock worth $310,000 after buying an additional 1,942 shares during the period. E Fund Management Co. Ltd. acquired a new stake in shares of AmerisourceBergen during the 1st quarter worth approximately $132,000. Panagora Asset Management Inc. grew its position in shares of AmerisourceBergen by 270.1% during the 1st quarter. Panagora Asset Management Inc. now owns 44,970 shares of the company’s stock worth $5,310,000 after buying an additional 32,820 shares during the period. Finally, Ensign Peak Advisors Inc grew its position in shares of AmerisourceBergen by 13.1% during the 1st quarter. Ensign Peak Advisors Inc now owns 130,712 shares of the company’s stock worth $15,434,000 after buying an additional 15,106 shares during the period. Hedge funds and other institutional investors own 63.63% of the company’s stock.

In other AmerisourceBergen news, CEO Steven H. Collis sold 24,265 shares of the company’s stock in a transaction on Monday, September 20th. The shares were sold at an average price of $121.90, for a total value of $2,957,903.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 4,655 shares of the company’s stock in a transaction on Friday, August 6th. The shares were sold at an average price of $121.95, for a total transaction of $567,677.25. Following the completion of the transaction, the executive vice president now owns 5,020 shares in the company, valued at $612,189. The disclosure for this sale can be found here. In the last three months, insiders sold 66,651 shares of company stock worth $7,969,526. 28.40% of the stock is currently owned by insiders.

Several equities research analysts have recently commented on the stock. Credit Suisse Group lifted their price target on shares of AmerisourceBergen from $132.00 to $144.00 and gave the stock an “outperform” rating in a research report on Thursday, August 5th. Morgan Stanley lifted their price objective on shares of AmerisourceBergen from $138.00 to $141.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 31st. Finally, Robert W. Baird lifted their price objective on shares of AmerisourceBergen from $156.00 to $162.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, AmerisourceBergen presently has an average rating of “Buy” and a consensus target price of $134.11.

Shares of ABC opened at $118.84 on Thursday. The company has a debt-to-equity ratio of 16.27, a quick ratio of 0.56 and a current ratio of 0.94. AmerisourceBergen Co. has a twelve month low of $92.24 and a twelve month high of $128.87. The firm’s 50 day moving average price is $121.10 and its two-hundred day moving average price is $119.12. The firm has a market cap of $24.69 billion, a P/E ratio of -6.45, a PEG ratio of 1.18 and a beta of 0.54.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Tuesday, August 3rd. The company reported $2.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.12. The firm had revenue of $53.41 billion for the quarter, compared to analyst estimates of $52.62 billion. AmerisourceBergen had a negative net margin of 1.83% and a negative return on equity of 694.83%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. On average, sell-side analysts anticipate that AmerisourceBergen Co. will post 9.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Monday, August 16th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, August 13th. AmerisourceBergen’s dividend payout ratio is presently 22.28%.

AmerisourceBergen Profile

AmerisourceBergen Corp. engages 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.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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