Municipal Employees Retirement System of Michigan cut its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 78.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,160 shares of the company’s stock after selling 7,670 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in AmerisourceBergen were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NEXT Financial Group Inc grew its holdings in shares of AmerisourceBergen by 95.4% during the 4th quarter. NEXT Financial Group Inc now owns 299 shares of the company’s stock worth $25,000 after purchasing an additional 146 shares during the period. Northwest Investment Counselors LLC acquired a new position in AmerisourceBergen during the 3rd quarter worth about $27,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in AmerisourceBergen by 392.9% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in AmerisourceBergen by 60.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 432 shares of the company’s stock worth $37,000 after acquiring an additional 162 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in AmerisourceBergen by 27.5% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 571 shares of the company’s stock worth $47,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 66.80% of the company’s stock.
ABC opened at $95.78 on Thursday. The stock’s 50-day moving average price is $88.24 and its 200 day moving average price is $86.36. AmerisourceBergen Corp. has a 12-month low of $70.55 and a 12-month high of $97.50. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.18. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 1.64 and a beta of 1.01.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. The company had revenue of $47.86 billion for the quarter, compared to analyst estimates of $47.84 billion. AmerisourceBergen had a return on equity of 49.95% and a net margin of 0.36%. AmerisourceBergen’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. On average, research analysts forecast that AmerisourceBergen Corp. will post 7.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 14th will be given a $0.42 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.68 dividend on an annualized basis and a yield of 1.75%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.40. AmerisourceBergen’s dividend payout ratio (DPR) is currently 22.57%.
Several equities analysts recently issued reports on ABC shares. Deutsche Bank increased their target price on AmerisourceBergen from $79.00 to $93.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. TheStreet raised AmerisourceBergen from a “c+” rating to a “b-” rating in a research note on Friday, December 6th. Barclays reissued a “hold” rating and set a $100.00 target price on shares of AmerisourceBergen in a research note on Sunday, January 19th. Finally, Robert W. Baird raised AmerisourceBergen from a “neutral” rating to an “outperform” rating and set a $112.00 target price on the stock in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. AmerisourceBergen currently has an average rating of “Hold” and a consensus target price of $95.13.
In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.42, for a total value of $1,680,380.10. Following the sale, the chief executive officer now owns 162,027 shares of the company’s stock, valued at approximately $13,678,319.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen W. Hyle sold 5,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $90.00, for a total value of $450,000.00. Following the completion of the sale, the director now directly owns 16,032 shares in the company, valued at approximately $1,442,880. The disclosure for this sale can be found here. Insiders sold a total of 64,417 shares of company stock worth $5,743,456 in the last ninety days. 28.30% of the stock is owned by corporate insiders.
AmerisourceBergen Company Profile
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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