Alpha Paradigm Partners LLC Invests $332,000 in AmerisourceBergen Co. (NYSE:ABC)

Alpha Paradigm Partners LLC purchased a new stake in AmerisourceBergen Co. (NYSE:ABC) in the second quarter, HoldingsChannel reports. The institutional investor purchased 2,897 shares of the company’s stock, valued at approximately $332,000.

Several other large investors have also made changes to their positions in ABC. Glenview Capital Management LLC increased its stake in shares of AmerisourceBergen by 107.2% during the first quarter. Glenview Capital Management LLC now owns 1,814,078 shares of the company’s stock worth $214,188,000 after acquiring an additional 938,636 shares during the period. Suvretta Capital Management LLC acquired a new position in shares of AmerisourceBergen during the first quarter worth about $103,134,000. Royal Bank of Canada increased its stake in shares of AmerisourceBergen by 81.4% during the first quarter. Royal Bank of Canada now owns 1,414,194 shares of the company’s stock worth $166,973,000 after acquiring an additional 634,551 shares during the period. JPMorgan Chase & Co. increased its stake in shares of AmerisourceBergen by 6.9% during the second quarter. JPMorgan Chase & Co. now owns 7,909,851 shares of the company’s stock worth $905,600,000 after acquiring an additional 512,869 shares during the period. Finally, Neuberger Berman Group LLC grew its position in AmerisourceBergen by 40.3% during the first quarter. Neuberger Berman Group LLC now owns 1,681,148 shares of the company’s stock worth $198,525,000 after buying an additional 483,060 shares during the period. 63.63% of the stock is owned by institutional investors and hedge funds.

Shares of ABC stock opened at $118.84 on Thursday. The firm has a market cap of $24.69 billion, a P/E ratio of -6.45, a P/E/G ratio of 1.18 and a beta of 0.54. The company has a debt-to-equity ratio of 16.27, a current ratio of 0.94 and a quick ratio of 0.56. AmerisourceBergen Co. has a 1-year low of $92.24 and a 1-year high of $128.87. The firm has a fifty day moving average of $121.10 and a two-hundred day moving average of $119.12.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Tuesday, August 3rd. The company reported $2.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.12. The firm had revenue of $53.41 billion for the quarter, compared to the consensus estimate of $52.62 billion. AmerisourceBergen had a negative net margin of 1.83% and a negative return on equity of 694.83%. AmerisourceBergen’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $1.85 EPS. On average, sell-side analysts expect that AmerisourceBergen Co. will post 9.24 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Monday, August 16th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 13th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.48%. AmerisourceBergen’s dividend payout ratio (DPR) is 22.28%.

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

In related news, EVP John G. Chou sold 6,082 shares of the firm’s stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $112.09, for a total transaction of $681,731.38. Following the completion of the sale, the executive vice president now directly owns 73,183 shares in the company, valued at $8,203,082.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven H. Collis sold 12,784 shares of the firm’s stock in a transaction that occurred on Tuesday, July 20th. The stock was sold at an average price of $117.66, for a total transaction of $1,504,165.44. Following the sale, the chief executive officer now owns 199,609 shares of the company’s stock, valued at $23,485,994.94. The disclosure for this sale can be found here. Insiders sold a total of 66,651 shares of company stock worth $7,969,526 in the last ninety days. Corporate insiders own 28.40% of the company’s stock.

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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