IndexIQ Advisors LLC Sells 365 Shares of AmerisourceBergen Co. (NYSE:ABC)

IndexIQ Advisors LLC lessened its holdings in shares of AmerisourceBergen Co. (NYSE:ABC) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,123 shares of the company’s stock after selling 365 shares during the quarter. IndexIQ Advisors LLC’s holdings in AmerisourceBergen were worth $2,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bogart Wealth LLC increased its position in AmerisourceBergen by 63.6% during the third quarter. Bogart Wealth LLC now owns 229 shares of the company’s stock worth $27,000 after buying an additional 89 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of AmerisourceBergen by 2.4% in the third quarter. Global Retirement Partners LLC now owns 3,860 shares of the company’s stock valued at $461,000 after purchasing an additional 91 shares during the last quarter. Legacy Financial Advisors Inc. grew its position in shares of AmerisourceBergen by 2.8% in the third quarter. Legacy Financial Advisors Inc. now owns 3,344 shares of the company’s stock valued at $399,000 after purchasing an additional 91 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of AmerisourceBergen by 0.5% in the second quarter. Stephens Inc. AR now owns 16,919 shares of the company’s stock valued at $1,937,000 after buying an additional 92 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of AmerisourceBergen by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,530 shares of the company’s stock valued at $2,121,000 after buying an additional 97 shares during the period. 62.99% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on ABC shares. Scotiabank cut AmerisourceBergen from an “outperform” rating to a “sector perform” rating in a research note on Thursday, January 6th. Barclays raised their price objective on AmerisourceBergen from $135.00 to $152.00 and gave the company an “equal weight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on AmerisourceBergen from $136.00 to $153.00 and gave the stock a “hold” rating in a research note on Friday, November 12th. TheStreet raised AmerisourceBergen from a “d” rating to an “a-” rating in a research note on Thursday, November 4th. Finally, Morgan Stanley boosted their target price on AmerisourceBergen from $141.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, December 17th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, AmerisourceBergen currently has a consensus rating of “Buy” and an average target price of $144.75.

In related news, EVP Robert P. Mauch sold 41,214 shares of the company’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $125.34, for a total value of $5,165,762.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 17,168 shares of the company’s stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $123.66, for a total value of $2,122,994.88. The disclosure for this sale can be found here. Insiders sold 158,865 shares of company stock worth $20,109,602 over the last quarter. 28.40% of the stock is currently owned by company insiders.

AmerisourceBergen stock opened at $136.20 on Friday. The business has a 50 day moving average of $126.11 and a 200-day moving average of $122.38. AmerisourceBergen Co. has a 1 year low of $100.71 and a 1 year high of $136.95. The company has a debt-to-equity ratio of 10.92, a current ratio of 0.94 and a quick ratio of 0.57. The company has a market capitalization of $28.35 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.58 and a beta of 0.51.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, November 4th. The company reported $2.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.03. AmerisourceBergen had a return on equity of 2,040.08% and a net margin of 0.72%. The company had revenue of $58.90 billion during the quarter, compared to the consensus estimate of $57.05 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The firm’s revenue was up 19.6% compared to the same quarter last year. Equities analysts anticipate that AmerisourceBergen Co. will post 10.68 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 29th. Investors of record on Monday, November 15th were issued a $0.46 dividend. The ex-dividend date was Friday, November 12th. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a yield of 1.35%. AmerisourceBergen’s dividend payout ratio is presently 24.90%.

AmerisourceBergen Profile

AmerisourceBergen Corp. engages 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.

Further Reading: How is diluted EPS different from basic EPS?

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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