Teachers Retirement System of The State of Kentucky Sells 460 Shares of AmerisourceBergen Co. (NYSE:ABC)

Teachers Retirement System of The State of Kentucky reduced its position in AmerisourceBergen Co. (NYSE:ABCGet Rating) by 4.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,569 shares of the company’s stock after selling 460 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in AmerisourceBergen were worth $1,635,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ABC. Herold Advisors Inc. bought a new stake in shares of AmerisourceBergen during the 1st quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of AmerisourceBergen by 133.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of AmerisourceBergen by 1,078.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $35,000 after purchasing an additional 205 shares during the last quarter. Advocacy Wealth Management Services LLC grew its holdings in shares of AmerisourceBergen by 58.4% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 94 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of AmerisourceBergen by 168.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 268 shares of the company’s stock valued at $41,000 after purchasing an additional 168 shares during the last quarter. 64.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 9th. Evercore ISI cut their target price on shares of AmerisourceBergen to $165.00 in a research report on Friday, June 3rd. Cowen cut their target price on shares of AmerisourceBergen from $171.00 to $170.00 in a research report on Thursday, June 9th. Barclays upgraded shares of AmerisourceBergen from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $182.00 in a research report on Thursday, May 26th. Finally, Argus lifted their target price on shares of AmerisourceBergen from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AmerisourceBergen currently has an average rating of “Moderate Buy” and an average price target of $173.55.

AmerisourceBergen Stock Up 0.2 %

AmerisourceBergen stock opened at $139.12 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt-to-equity ratio of 8.96. AmerisourceBergen Co. has a 12-month low of $113.68 and a 12-month high of $167.19. The firm’s fifty day moving average is $145.02 and its 200 day moving average is $149.17. The company has a market capitalization of $28.83 billion, a PE ratio of 15.95, a PEG ratio of 1.55 and a beta of 0.46.

AmerisourceBergen (NYSE:ABCGet Rating) last released its earnings results on Wednesday, August 3rd. The company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.06. AmerisourceBergen had a net margin of 0.78% and a return on equity of 350.60%. The company had revenue of $60.06 billion for the quarter, compared to the consensus estimate of $59.03 billion. During the same quarter in the previous year, the company earned $2.16 EPS. AmerisourceBergen’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts predict that AmerisourceBergen Co. will post 11 EPS for the current fiscal year.

AmerisourceBergen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Monday, August 15th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.32%. AmerisourceBergen’s payout ratio is presently 21.10%.

Insider Activity at AmerisourceBergen

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $144.25, for a total transaction of $1,655,990.00. Following the completion of the sale, the chief executive officer now owns 205,178 shares in the company, valued at approximately $29,596,926.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 34,440 shares of company stock worth $4,924,920 in the last quarter. Company insiders own 28.80% of the company’s stock.

AmerisourceBergen Company Profile

(Get Rating)

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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