Brookstone Capital Management trimmed its stake in AmerisourceBergen Corp. (NYSE:ABC) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,443 shares of the company’s stock after selling 546 shares during the period. Brookstone Capital Management’s holdings in AmerisourceBergen were worth $408,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its position in shares of AmerisourceBergen by 2.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,367 shares of the company’s stock worth $413,000 after acquiring an additional 101 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of AmerisourceBergen by 9.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,580 shares of the company’s stock worth $512,000 after acquiring an additional 500 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of AmerisourceBergen by 8.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock worth $579,000 after acquiring an additional 507 shares in the last quarter. Bray Capital Advisors raised its position in shares of AmerisourceBergen by 2.5% in the 4th quarter. Bray Capital Advisors now owns 21,890 shares of the company’s stock worth $2,010,000 after acquiring an additional 525 shares in the last quarter. Finally, Ridgewood Investments LLC raised its position in shares of AmerisourceBergen by 16.7% in the 4th quarter. Ridgewood Investments LLC now owns 4,093 shares of the company’s stock worth $376,000 after acquiring an additional 586 shares in the last quarter. 66.84% of the stock is owned by hedge funds and other institutional investors.
AmerisourceBergen Corp. (NYSE ABC) opened at $97.77 on Wednesday. AmerisourceBergen Corp. has a one year low of $71.90 and a one year high of $106.27. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.50 and a current ratio of 0.95. The firm has a market capitalization of $21,480.00, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.43 and a beta of 1.02.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.20. The business had revenue of $40.47 billion for the quarter, compared to the consensus estimate of $40.42 billion. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 EPS. analysts predict 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. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.52 annualized dividend and a yield of 1.55%. AmerisourceBergen’s payout ratio is presently 34.47%.
Several research firms have recently commented on ABC. Jefferies Group set a $95.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a research report on Wednesday, February 7th. TheStreet raised AmerisourceBergen from a “c” rating to a “b” rating in a research report on Tuesday, February 6th. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Thursday, February 8th. Needham & Company LLC reduced their price target on AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $112.00 price target (up from $105.00) on shares of AmerisourceBergen in a research report on Wednesday, February 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. AmerisourceBergen has an average rating of “Buy” and an average target price of $101.17.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 21,350 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $82.53, for a total transaction of $1,762,015.50. Following the sale, the chairman now owns 287,925 shares in the company, valued at approximately $23,762,450.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $85.73, for a total value of $994,468.00. Following the sale, the chief financial officer now owns 56,436 shares in the company, valued at approximately $4,838,258.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 203,077 shares of company stock worth $18,288,730. Company insiders own 27.30% of the company’s stock.
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AmerisourceBergen Company Profile
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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