Donald L. Hagan LLC, a prominent investment firm, has recently increased its holdings in AmerisourceBergen Co. by 11.3% during the first quarter of the year. This information was disclosed in the company’s latest filing with the Securities and Exchange Commission (SEC). With this addition, Donald L. Hagan LLC now possesses 6,768 shares of AmerisourceBergen’s stock, with an additional 686 shares acquired during the same period. The total worth of these holdings amounts to an impressive $1,084,000 as per the most recent SEC filing.
As part of further updates from AmerisourceBergen, it was announced that a quarterly dividend had been paid to shareholders on Tuesday, May 30th. This dividend of $0.485 per share was distributed to shareholders of record on Friday, May 12th. The annualized basis for this dividend is calculated at $1.94, resulting in a yield of approximately 1.02%. It is noteworthy that the ex-dividend date for this payout was Thursday, May 11th. Considering these figures, it can be observed that AmerisourceBergen maintains a solid dividend payout ratio of 24.94%.
In other intriguing news surrounding the company, Gina Clark – an Executive Vice President (EVP) – recently sold 27,542 shares of AmerisourceBergen’s stock on Thursday, June 22nd. The average price at which these shares were sold stood at $186.84 per share – thereby recording a total transaction value of an astounding $5,145,947.28. As a result of this transaction completion and divestment decision by Clark herself , her stake in the company now stands at 26,733 shares valued approximately at $4,994,793 .72.This information about Clark’s share disposition was revealed through a formal legal filing with the SEC, which can be accessed on their official website.
Moreover, it is also worth mentioning that one of AmerisourceBergen’s major shareholders, Walgreens Boots Alliance Inc., recently sold a significant amount of its holdings in the business. On Thursday, May 11th, a total of 292,792 shares were divested at an average price of $170.77 per share resulting in total proceeds of $50,000,089.84. Following this sale transaction, Walgreens Boots Alliance Inc.’s remaining stake in AmerisourceBergen comprises approximately 33,366,388 shares valued at an estimated $5,697,978 ,078 .76.A comprehensive disclosure about this sale procedure can be found by visiting the SEC’s official website.
To add to these developments, it is intriguing to note that insiders have collectively sold a remarkable number of AmerisourceBergen shares – totaling 627 ,815 – during the last quarter alone which accounts for a value of $110 ,556 ,193.This significant insider activity emphasizes the confidence and trust placed by insiders and specifically major stakeholders in the company’s strategic direction and future prospects– as they still retain substantial portions of shares amounting to approximately 20.10 % ownership.
In conclusion, Donald L. Hagan LLC’s increased holdings in AmerisourceBergen Co. indicate a positive outlook on the company’s growth potential and market position. Furthermore, the recent dividend distribution and insider activities within AmerisourceBergen serve as indicators of stability and confidence among investors and major shareholders alike.We are poised to witness how these recent developments will shape the future trajectory of this leading pharmaceutical distribution company and its impact on the broader industry landscape.
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AmerisourceBergen Gains Interest from Hedge Funds and Positive Analyst Reports Signal Growth Potential
AmerisourceBergen (NYSE:ABC) has been attracting the interest of several hedge funds, as they have increased or decreased their stakes in the company. J2 Capital Management Inc, for example, grew its position in AmerisourceBergen by 2.5% during the fourth quarter, purchasing an additional 66 shares. This brings J2 Capital Management Inc’s total ownership to 2,682 shares worth $444,000. Pinnacle Associates Ltd also expanded its position in AmerisourceBergen by 3.5% during the same period, acquiring an additional 68 shares and now owning a total of 1,989 shares valued at $334,000.
Not only limited to J2 Capital Management Inc and Pinnacle Associates Ltd, but other investors such as Farmers Trust Co and Private Trust Co NA have also increased their positions in the company. Farmers Trust Co purchased an extra 72 shares during the fourth quarter, bringing their total ownership to 9,765 shares worth $1.618 million. Private Trust Co NA acquired an additional 76 shares during the first quarter, giving them a total ownership of 1,968 shares valued at $315,000.
These moves made by institutional investors and hedge funds show confidence in AmerisourceBergen’s potential for growth and profitability. With a substantial percentage of the company’s stock owned by these entities – totaling approximately 92.64% – it is clear that AmerisourceBergen is being viewed favorably by financial professionals.
Research analyst reports have also shed light on AmerisourceBergen’s prospects. Deutsche Bank Aktiengesellschaft recently raised their price objective on the company’s shares from $174.00 to $182.00 in a research report issued on May 3rd. TheStreet upgraded AmerisourceBergen from a “c” rating to a “b+” rating on May 2nd. Furthermore, Bank of America increased their price target from $195.00 to $200.00 and provided a “buy” rating on June 7th. Barclays also raised their price target from $182.00 to $189.00, giving AmerisourceBergen an “overweight” rating in a report issued on May 3rd. And as if that wasn’t enough, Citigroup initiated coverage on the company with a “buy” rating and a target price of $185.00.
With two hold ratings, eleven buy ratings, and one strong buy rating given by equities research analysts, AmerisourceBergen currently holds a consensus rating of “moderate buy.” The average target price for the company’s stock is set at $184.00, according to data from Bloomberg.
AmerisourceBergen recently announced its quarterly dividend, which was paid on May 30th. Shareholders of record on May 12th received a dividend of $0.485 per share. This represents an annualized dividend of $1.94 and yields approximately 1.02%. The ex-dividend date for this payment was May 11th.
The stock opened at $189.78 on Thursday, with AmerisourceBergen’s market cap standing at $38.42 billion. The company has a PE ratio of 24.39, suggesting favorable market sentiment towards its future prospects and profitability potential compared to its industry peers. Additionally, with a PEG ratio of 1.78 and a beta of 0.53, AmerisourceBergen appears to have healthy growth prospects while being less volatile than the wider market.
In terms of liquidity ratios, the company has a current ratio of 0.89 and quick ratio of 0.51; indicating that it has sufficient short-term assets to cover its immediate liabilities. However, it is worth noting that AmerisourceBergen’s debt-to-equity ratio stands at 9.13, suggesting a relatively high level of leverage.
AmerisourceBergen’s latest earnings report, released on May 2nd, showed promising results. The company reported earnings per share (EPS) of $3.50 for the quarter, surpassing analysts’ consensus estimate of $3.29 by $0.21. Revenue for the quarter stood at $63.46 billion, compared to analyst estimates of $60.40 billion. This represents a 9.9% increase in revenue on a year-over-year basis.
With a net margin of 0.65% and a return on equity of 809.53%, AmerisourceBergen demonstrated its ability to generate profits despite operating in a challenging market environment.
For the current fiscal year, sell-side analysts predict that AmerisourceBergen will post EPS of $11.88, further emphasizing the positive outlook for the company’s profitability moving forward.
Overall, AmerisourceBergen is attracting attention from institutional investors and hedge funds due to its potential for growth and profitability. Analyst reports and ratings suggest favorable market sentiment towards the company’s future prospects