SG Americas Securities LLC Sells 131,656 Shares of AmerisourceBergen Co. (NYSE:ABC)

SG Americas Securities LLC reduced its position in shares of AmerisourceBergen Co. (NYSE:ABCGet Rating) by 96.6% in the third quarter, HoldingsChannel reports. The firm owned 4,668 shares of the company’s stock after selling 131,656 shares during the quarter. SG Americas Securities LLC’s holdings in AmerisourceBergen were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ABC. United Bank grew its stake in shares of AmerisourceBergen by 16.6% during the 1st quarter. United Bank now owns 3,632 shares of the company’s stock valued at $562,000 after acquiring an additional 518 shares during the period. Raymond James Trust N.A. grew its stake in shares of AmerisourceBergen by 29.9% during the 1st quarter. Raymond James Trust N.A. now owns 5,193 shares of the company’s stock valued at $803,000 after acquiring an additional 1,194 shares during the period. Synovus Financial Corp grew its stake in shares of AmerisourceBergen by 123.4% during the 1st quarter. Synovus Financial Corp now owns 6,301 shares of the company’s stock valued at $975,000 after acquiring an additional 3,480 shares during the period. Vontobel Holding Ltd. grew its stake in shares of AmerisourceBergen by 22.5% during the 1st quarter. Vontobel Holding Ltd. now owns 2,767 shares of the company’s stock valued at $430,000 after acquiring an additional 508 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of AmerisourceBergen by 12.4% during the 1st quarter. Blair William & Co. IL now owns 8,124 shares of the company’s stock valued at $1,257,000 after acquiring an additional 899 shares during the period. 84.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABC. StockNews.com upgraded AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research note on Friday. Cowen lowered their price target on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating on the stock in a report on Tuesday, October 18th. Robert W. Baird boosted their price target on AmerisourceBergen from $195.00 to $199.00 and gave the stock an “outperform” rating in a report on Wednesday, January 11th. Argus boosted their price target on AmerisourceBergen from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, January 12th. Finally, Bank of America raised AmerisourceBergen from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $160.00 to $169.00 in a report on Tuesday, October 11th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AmerisourceBergen has a consensus rating of “Moderate Buy” and a consensus price target of $176.25.

AmerisourceBergen Stock Down 0.4 %

Shares of ABC opened at $162.21 on Monday. The stock has a market capitalization of $33.36 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.63 and a beta of 0.55. AmerisourceBergen Co. has a 1 year low of $127.94 and a 1 year high of $174.63. The business’s 50 day simple moving average is $165.65 and its 200-day simple moving average is $152.59. The company has a debt-to-equity ratio of 64.99, a current ratio of 0.91 and a quick ratio of 0.55.

AmerisourceBergen (NYSE:ABCGet Rating) last released its earnings results on Thursday, November 3rd. The company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.02. The firm had revenue of $61.17 billion for the quarter, compared to the consensus estimate of $60.56 billion. AmerisourceBergen had a return on equity of 444.46% and a net margin of 0.71%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.39 EPS. As a group, equities analysts expect that AmerisourceBergen Co. will post 11.5 earnings per share for the current fiscal year.

AmerisourceBergen Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Monday, November 14th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $1.94 annualized dividend and a dividend yield of 1.20%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.46. AmerisourceBergen’s payout ratio is currently 24.13%.

Insider Activity

In other news, CAO Lazarus Krikorian sold 2,218 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $169.24, for a total transaction of $375,374.32. Following the transaction, the chief accounting officer now owns 20,007 shares of the company’s stock, valued at approximately $3,385,984.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AmerisourceBergen news, EVP Gina Clark sold 392 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $166.30, for a total value of $65,189.60. Following the transaction, the executive vice president now owns 28,657 shares of the company’s stock, valued at approximately $4,765,659.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lazarus Krikorian sold 2,218 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $169.24, for a total value of $375,374.32. Following the completion of the transaction, the chief accounting officer now directly owns 20,007 shares in the company, valued at approximately $3,385,984.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,279,532 shares of company stock valued at $3,043,889,702. 28.40% of the stock is currently owned by insiders.

AmerisourceBergen Profile

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AmerisourceBergen Corp. engages in the provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, and long-term care and alternate site pharmacies.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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