Legacy Advisors LLC cut its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 13.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,000 shares of the company’s stock after selling 1,293 shares during the quarter. Legacy Advisors LLC’s holdings in AmerisourceBergen were worth $682,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rational Advisors LLC boosted its stake in AmerisourceBergen by 1,627.3% in the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock valued at $30,000 after purchasing an additional 358 shares during the period. Riverview Trust Co boosted its stake in AmerisourceBergen by 127.3% in the 1st quarter. Riverview Trust Co now owns 391 shares of the company’s stock valued at $31,000 after purchasing an additional 219 shares during the period. Trust Co. of Vermont boosted its stake in AmerisourceBergen by 963.8% in the 1st quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock valued at $40,000 after purchasing an additional 453 shares during the period. Financial Gravity Wealth Inc. bought a new stake in shares of AmerisourceBergen during the 1st quarter valued at $48,000. Finally, Valeo Financial Advisors LLC lifted its position in shares of AmerisourceBergen by 139.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 777 shares of the company’s stock valued at $66,000 after acquiring an additional 452 shares during the period. Institutional investors and hedge funds own 66.03% of the company’s stock.
ABC opened at $85.57 on Friday. AmerisourceBergen Corp. has a 12 month low of $69.36 and a 12 month high of $94.85. The company has a market cap of $18.76 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.60 and a beta of 0.97. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The business’s 50-day moving average price is $87.39 and its 200-day moving average price is $81.97.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. During the same quarter in the previous year, the business earned $1.54 EPS. AmerisourceBergen’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts forecast that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.87%. AmerisourceBergen’s payout ratio is 24.65%.
A number of analysts have recently weighed in on ABC shares. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. Argus dropped their price objective on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $88.00.
In other news, insider John G. Chou sold 13,997 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.58, for a total value of $1,253,851.26. Following the completion of the sale, the insider now directly owns 65,782 shares in the company, valued at approximately $5,892,751.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dale Danilewitz sold 543 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $81.16, for a total value of $44,069.88. Following the completion of the sale, the insider now owns 1,085 shares of the company’s stock, valued at approximately $88,058.60. The disclosure for this sale can be found here. Insiders have sold a total of 191,379 shares of company stock worth $16,502,190 over the last three months. Insiders own 27.80% of the company’s stock.
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.
Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.