Commonwealth Equity Services LLC Decreases Stake in AmerisourceBergen Co. (NYSE:ABC)

Commonwealth Equity Services LLC reduced its position in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,265 shares of the company’s stock after selling 241 shares during the period. Commonwealth Equity Services LLC’s holdings in AmerisourceBergen were worth $5,610,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Sigma Planning Corp lifted its position in shares of AmerisourceBergen by 3.2% in the first quarter. Sigma Planning Corp now owns 2,097 shares of the company’s stock worth $324,000 after buying an additional 65 shares in the last quarter. Destiny Wealth Partners LLC lifted its position in shares of AmerisourceBergen by 11.0% in the first quarter. Destiny Wealth Partners LLC now owns 736 shares of the company’s stock worth $114,000 after buying an additional 73 shares in the last quarter. Ieq Capital LLC lifted its position in shares of AmerisourceBergen by 1.6% in the fourth quarter. Ieq Capital LLC now owns 4,733 shares of the company’s stock worth $629,000 after buying an additional 74 shares in the last quarter. AdvisorNet Financial Inc increased its stake in AmerisourceBergen by 17.4% during the first quarter. AdvisorNet Financial Inc now owns 520 shares of the company’s stock worth $80,000 after acquiring an additional 77 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in AmerisourceBergen by 2.2% during the first quarter. Newbridge Financial Services Group Inc. now owns 3,789 shares of the company’s stock worth $586,000 after acquiring an additional 82 shares during the last quarter. 64.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of the company’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $142.35, for a total transaction of $1,634,178.00. Following the completion of the sale, the chief executive officer now owns 205,178 shares in the company, valued at $29,207,088.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AmerisourceBergen news, major shareholder Walgreens Boots Alliance, Inc. sold 6,000,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $150.00, for a total transaction of $900,000,000.00. Following the completion of the sale, the insider now owns 52,854,867 shares in the company, valued at $7,928,230,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Steven H. Collis sold 11,480 shares of the company’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $142.35, for a total value of $1,634,178.00. Following the sale, the chief executive officer now owns 205,178 shares of the company’s stock, valued at approximately $29,207,088.30. The disclosure for this sale can be found here. Insiders sold a total of 6,027,855 shares of company stock worth $904,038,584 over the last 90 days. Company insiders own 28.80% of the company’s stock.

AmerisourceBergen Stock Down 2.7 %

Shares of NYSE:ABC opened at $139.00 on Thursday. AmerisourceBergen Co. has a 52-week low of $113.68 and a 52-week high of $167.19. The stock has a market cap of $29.12 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.48. The business’s 50 day moving average is $144.48 and its 200 day moving average is $147.40. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 5.13.

AmerisourceBergen (NYSE:ABCGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.23. AmerisourceBergen had a return on equity of 349.46% and a net margin of 0.75%. The company had revenue of $57.72 billion for the quarter, compared to analysts’ expectations of $57.26 billion. During the same quarter in the prior year, the firm earned $2.53 earnings per share. AmerisourceBergen’s revenue was up 17.4% compared to the same quarter last year. Sell-side analysts predict that AmerisourceBergen Co. will post 10.94 EPS for the current year.

AmerisourceBergen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.32%. AmerisourceBergen’s dividend payout ratio is currently 22.44%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ABC shares. Cowen reduced their price objective on AmerisourceBergen from $171.00 to $170.00 and set an “outperform” rating on the stock in a research note on Thursday, June 9th. Evercore ISI reduced their price objective on AmerisourceBergen to $165.00 in a research note on Friday, June 3rd. Robert W. Baird boosted their price objective on AmerisourceBergen from $179.00 to $187.00 in a research note on Thursday, May 5th. Deutsche Bank Aktiengesellschaft raised AmerisourceBergen from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $167.00 to $178.00 in a research note on Tuesday, June 7th. Finally, Morgan Stanley cut their target price on AmerisourceBergen from $178.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, May 27th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $170.73.

About AmerisourceBergen

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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, 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 alternate site pharmacies, and other customers.

Further Reading

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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