On March 31, 2023, Citigroup initiated coverage of AmerisourceBergen with a Buy recommendation.
Analyst Price Forecast Suggests 17.83% Upside
As of March 31, 2023, the average one-year price target for AmerisourceBergen is $187.75. The forecasts range from a low of $171.70 to a high of $211.05. The average price target represents an increase of 17.83% from its latest reported closing price of $159.34.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for AmerisourceBergen is $254,287MM, an increase of 5.16%. The projected annual non-GAAP EPS is $11.60.
AmerisourceBergen Declares $0.48 Dividend
On February 1, 2023 the company declared a regular quarterly dividend of $0.48 per share ($1.94 annualized). Shareholders of record as of February 10, 2023 received the payment on February 27, 2023. Previously, the company paid $0.46 per share.
At the current share price of $159.34 / share, the stock's dividend yield is 1.22%. Looking back five years and taking a sample every week, the average dividend yield has been 1.63%, the lowest has been 1.13%, and the highest has been 2.27%. The standard deviation of yields is 0.28 (n=237).
The current dividend yield is 1.51 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.23. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.15%, demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
Jpmorgan Chase & holds 6,503K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 7,354K shares, representing a decrease of 13.09%. The firm decreased its portfolio allocation in ABC by 0.60% over the last quarter.
Boston Partners holds 5,201K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 5,042K shares, representing an increase of 3.07%. The firm decreased its portfolio allocation in ABC by 99.95% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,999K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 4,637K shares, representing an increase of 7.23%. The firm increased its portfolio allocation in ABC by 21.90% over the last quarter.
Price T Rowe Associates holds 4,171K shares representing 2.06% ownership of the company. In it's prior filing, the firm reported owning 198K shares, representing an increase of 95.25%. The firm increased its portfolio allocation in ABC by 2,430.33% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 3,831K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 3,585K shares, representing an increase of 6.40%. The firm increased its portfolio allocation in ABC by 20.17% over the last quarter.
What is the Fund Sentiment?
There are 1862 funds or institutions reporting positions in AmerisourceBergen. This is an increase of 119 owner(s) or 6.83% in the last quarter. Average portfolio weight of all funds dedicated to ABC is 0.36%, a decrease of 2.60%. Total shares owned by institutions increased in the last three months by 5.53% to 176,969K shares. The put/call ratio of ABC is 0.57, indicating a bullish outlook.
Amerisource Bergen Background Information
(This description is provided by the company.)
AmerisourceBergen provides pharmaceutical products, value-driving services and business solutions that improve access to care. Tens of thousands of healthcare providers, veterinary practices and livestock producers trust us as their partner in the pharmaceutical supply chain. Global manufacturers depend on us for services that drive commercial success for their products. Through our daily work-and powered by our 22,000 associates-we are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #10 on the Fortune 500, with more than $185 billion in annual revenue. The company is headquartered in Valley Forge, Pa. and has a presence in 50+ countries.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
