Toronto Dominion Bank Reduces Stock Position in AmerisourceBergen Corp. (NYSE:ABC)

Toronto Dominion Bank lowered its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 18.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,580 shares of the company’s stock after selling 25,628 shares during the quarter. Toronto Dominion Bank owned 0.05% of AmerisourceBergen worth $9,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ABC. Motco purchased a new position in AmerisourceBergen during the 2nd quarter valued at $26,000. Rational Advisors LLC lifted its holdings in shares of AmerisourceBergen by 1,627.3% in the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock worth $30,000 after buying an additional 358 shares during the period. Citizens Financial Group Inc RI lifted its holdings in shares of AmerisourceBergen by 316.5% in the 2nd quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock worth $39,000 after buying an additional 345 shares during the period. Winslow Evans & Crocker Inc. lifted its holdings in shares of AmerisourceBergen by 212.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 718 shares of the company’s stock worth $62,000 after buying an additional 488 shares during the period. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of AmerisourceBergen by 139.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 777 shares of the company’s stock worth $66,000 after buying an additional 452 shares during the period. Institutional investors own 66.10% of the company’s stock.

ABC has been the subject of several research reports. Argus lowered their target price on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Deutsche Bank initiated coverage on AmerisourceBergen in a report on Thursday. They issued a “hold” rating and a $91.00 target price for the company. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley lowered their target price on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. AmerisourceBergen presently has an average rating of “Hold” and an average target price of $87.38.

Shares of ABC traded down $1.22 during trading hours on Friday, hitting $83.42. The company had a trading volume of 1,226,087 shares, compared to its average volume of 1,142,129. The company has a market capitalization of $17.79 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.52 and a beta of 1.00. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. AmerisourceBergen Corp. has a one year low of $69.36 and a one year high of $94.85. The company’s fifty day moving average price is $86.15 and its two-hundred day moving average price is $81.99.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. The firm had revenue of $45.24 billion during the quarter, compared to analyst estimates of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. Analysts forecast that AmerisourceBergen Corp. will post 7.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Friday, August 16th. AmerisourceBergen’s payout ratio is 24.65%.

In other news, CEO Steven H. Collis sold 19,905 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $86.89, for a total value of $1,729,545.45. Following the completion of the transaction, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at approximately $13,423,114.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 107,826 shares of the business’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total value of $9,292,444.68. Following the completion of the transaction, the chairman now directly owns 242,405 shares of the company’s stock, valued at $20,890,462.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,215 shares of company stock valued at $16,240,235. Corporate insiders own 27.80% of the company’s stock.

About AmerisourceBergen

AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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