Hancock Whitney Corp decreased its stake in AmerisourceBergen Corp. (NYSE:ABC) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,591 shares of the company’s stock after selling 171 shares during the period. Hancock Whitney Corp’s holdings in AmerisourceBergen were worth $1,558,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in AmerisourceBergen by 28.9% during the first quarter. The Manufacturers Life Insurance Company now owns 156,008 shares of the company’s stock valued at $12,406,000 after acquiring an additional 34,994 shares in the last quarter. Northern Trust Corp grew its stake in AmerisourceBergen by 14.4% in the 1st quarter. Northern Trust Corp now owns 2,433,611 shares of the company’s stock worth $193,521,000 after buying an additional 306,161 shares in the last quarter. OppenheimerFunds Inc. grew its stake in AmerisourceBergen by 6.1% in the 1st quarter. OppenheimerFunds Inc. now owns 186,964 shares of the company’s stock worth $14,867,000 after buying an additional 10,813 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in AmerisourceBergen by 19.0% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 922,944 shares of the company’s stock worth $73,392,000 after buying an additional 147,372 shares in the last quarter. Finally, RiverGlades Family Offices LLC purchased a new position in AmerisourceBergen in the 1st quarter worth approximately $313,000. 66.56% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Robert P. Mauch sold 24,767 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $81.16, for a total transaction of $2,010,089.72. Following the completion of the sale, the executive vice president now directly owns 43,286 shares in the company, valued at approximately $3,513,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dale Danilewitz sold 543 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $78.77, for a total transaction of $42,772.11. Following the sale, the insider now owns 2,171 shares of the company’s stock, valued at $171,009.67. The disclosure for this sale can be found here. Insiders sold a total of 51,563 shares of company stock valued at $4,164,135 in the last ninety days. 27.80% of the stock is owned by corporate insiders.
Shares of AmerisourceBergen stock opened at $86.44 on Friday. AmerisourceBergen Corp. has a 52-week low of $69.36 and a 52-week high of $94.88. The firm has a market capitalization of $17.94 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.95 and a quick ratio of 0.56.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.15. AmerisourceBergen had a net margin of 0.53% and a return on equity of 46.24%. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $43.44 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that AmerisourceBergen Corp. will post 6.84 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a $0.40 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.85%. AmerisourceBergen’s dividend payout ratio (DPR) is 24.65%.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Wednesday. Argus cut their price target on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Guggenheim assumed coverage on shares of AmerisourceBergen in a research note on Thursday, April 11th. They issued a “buy” rating for the company. Finally, Bank of America cut shares of AmerisourceBergen from a “buy” rating to an “underperform” rating and cut their price target for the stock from $95.00 to $76.00 in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. AmerisourceBergen currently has an average rating of “Hold” and a consensus price target of $88.33.
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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, 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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