Majedie Asset Management Ltd cut its position in AmerisourceBergen Corp. (NYSE:ABC) by 18.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,386 shares of the company’s stock after selling 16,181 shares during the quarter. Majedie Asset Management Ltd’s holdings in AmerisourceBergen were worth $6,371,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its stake in AmerisourceBergen by 2.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,367 shares of the company’s stock valued at $413,000 after purchasing an additional 101 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of AmerisourceBergen by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock valued at $591,000 after purchasing an additional 180 shares in the last quarter. Linscomb & Williams Inc. boosted its position in shares of AmerisourceBergen by 2.5% during the 2nd quarter. Linscomb & Williams Inc. now owns 12,486 shares of the company’s stock valued at $1,180,000 after purchasing an additional 299 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of AmerisourceBergen by 9.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,580 shares of the company’s stock valued at $512,000 after purchasing an additional 500 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of AmerisourceBergen by 8.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock valued at $579,000 after purchasing an additional 507 shares in the last quarter. Institutional investors and hedge funds own 66.84% of the company’s stock.
In other news, insider Dale Danilewitz sold 4,459 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $78.30, for a total transaction of $349,139.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard W. Gochnauer sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $85.00, for a total value of $170,000.00. Following the transaction, the director now owns 12,947 shares of the company’s stock, valued at $1,100,495. The disclosure for this sale can be found here. In the last three months, insiders sold 203,077 shares of company stock valued at $18,288,730. 27.30% of the stock is currently owned by company insiders.
Several equities research analysts recently commented on ABC shares. TheStreet upgraded AmerisourceBergen from a “c” rating to a “b” rating in a research report on Tuesday, February 6th. Needham & Company LLC set a $93.00 target price on AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, October 24th. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Wednesday, January 3rd. Leerink Swann set a $105.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Finally, Goldman Sachs Group raised AmerisourceBergen from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $101.17.
AmerisourceBergen Corp. (NYSE ABC) traded down $1.30 on Wednesday, hitting $96.47. 2,392,573 shares of the company traded hands, compared to its average volume of 2,127,628. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.95 and a quick ratio of 0.50. AmerisourceBergen Corp. has a twelve month low of $71.90 and a twelve month high of $106.27. The firm has a market capitalization of $21,480.00, a PE ratio of 21.86, a PEG ratio of 1.43 and a beta of 1.02.
AmerisourceBergen (NYSE:ABC) last released its earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.20. The business had revenue of $40.47 billion for the quarter, compared to analysts’ expectations of $40.42 billion. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. research analysts expect that AmerisourceBergen Corp. will post 6.58 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.52 annualized dividend and a dividend yield of 1.58%. AmerisourceBergen’s payout ratio is 34.47%.
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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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