Amalgamated Bank Sells 2,654 Shares of AmerisourceBergen Co. (NYSE:ABC)

Amalgamated Bank trimmed its position in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 6.6% during the first quarter, HoldingsChannel.com reports. The firm owned 37,435 shares of the company’s stock after selling 2,654 shares during the quarter. Amalgamated Bank’s holdings in AmerisourceBergen were worth $5,792,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ABC. Herold Advisors Inc. bought a new stake in shares of AmerisourceBergen in the first quarter valued at about $31,000. Massmutual Trust Co. FSB ADV increased its position in shares of AmerisourceBergen by 133.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock valued at $32,000 after acquiring an additional 120 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of AmerisourceBergen by 1,078.9% in the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $35,000 after acquiring an additional 205 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of AmerisourceBergen in the fourth quarter valued at about $38,000. Finally, Quent Capital LLC acquired a new stake in shares of AmerisourceBergen in the fourth quarter valued at about $38,000. 64.17% of the stock is currently owned by institutional investors.

AmerisourceBergen Price Performance

AmerisourceBergen stock opened at $140.55 on Monday. AmerisourceBergen Co. has a 12 month low of $113.68 and a 12 month high of $167.19. The stock’s 50 day moving average is $145.08 and its 200-day moving average is $149.29. The company has a current ratio of 0.92, a quick ratio of 0.55 and a debt-to-equity ratio of 8.96. The company has a market capitalization of $29.13 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.56 and a beta of 0.46.

AmerisourceBergen (NYSE:ABCGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.06. The business had revenue of $60.06 billion during the quarter, compared to analysts’ expectations of $59.03 billion. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. Equities research analysts expect that AmerisourceBergen Co. will post 11 EPS for the current year.

AmerisourceBergen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, August 12th. AmerisourceBergen’s payout ratio is presently 21.10%.

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, September 13th. The stock was sold at an average price of $142.40, for a total transaction of $1,634,752.00. Following the completion of the sale, the chief executive officer now directly owns 205,178 shares in the company, valued at $29,217,347.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 34,440 shares of company stock worth $4,924,920 over the last three months. Insiders own 28.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ABC shares. Cowen lowered their target price on AmerisourceBergen from $171.00 to $170.00 in a research report on Thursday, June 9th. Credit Suisse Group lowered their target price on AmerisourceBergen from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday, August 4th. Morgan Stanley lifted their target price on AmerisourceBergen from $175.00 to $176.00 and gave the company an “equal weight” rating in a research report on Monday, August 22nd. Deutsche Bank Aktiengesellschaft raised AmerisourceBergen from a “hold” rating to a “buy” rating and boosted their price target for the stock from $167.00 to $178.00 in a research report on Tuesday, June 7th. Finally, Barclays raised AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $182.00 in a research report on Thursday, May 26th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AmerisourceBergen has an average rating of “Moderate Buy” and an average price target of $173.55.

AmerisourceBergen Profile

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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.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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