Flinton Capital Management LLC lowered its stake in AmerisourceBergen Corp. (NYSE:ABC) by 5.6% during the first quarter, Holdings Channel reports. The fund owned 60,146 shares of the company’s stock after selling 3,570 shares during the period. Flinton Capital Management LLC’s holdings in AmerisourceBergen Corp. were worth $5,323,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABC. Apriem Advisors boosted its position in AmerisourceBergen Corp. by 460.0% in the third quarter. Apriem Advisors now owns 1,400 shares of the company’s stock valued at $113,000 after buying an additional 1,150 shares during the last quarter. Archford Capital Strategies LLC purchased a new position in AmerisourceBergen Corp. during the fourth quarter valued at $125,000. Washington Trust Bank boosted its position in AmerisourceBergen Corp. by 400.9% in the first quarter. Washington Trust Bank now owns 1,693 shares of the company’s stock valued at $150,000 after buying an additional 1,355 shares during the last quarter. Alpha Windward LLC boosted its position in AmerisourceBergen Corp. by 1.8% in the first quarter. Alpha Windward LLC now owns 2,148 shares of the company’s stock valued at $190,000 after buying an additional 39 shares during the last quarter. Finally, Rathbone Brothers plc purchased a new position in AmerisourceBergen Corp. during the first quarter valued at $203,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.
AmerisourceBergen Corp. (NYSE:ABC) traded down 0.16% during mid-day trading on Friday, reaching $88.72. The company had a trading volume of 730,081 shares. AmerisourceBergen Corp. has a 12-month low of $68.38 and a 12-month high of $94.50. The stock has a 50 day moving average price of $85.49 and a 200-day moving average price of $83.60. The stock has a market capitalization of $19.37 billion, a P/E ratio of 17.22 and a beta of 0.82.
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings data on Thursday, May 4th. The company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. AmerisourceBergen Corp. had a return on equity of 62.44% and a net margin of 0.91%. The firm had revenue of $37.15 billion during the quarter, compared to analysts’ expectations of $38.07 billion. During the same period in the prior year, the business earned $1.68 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts anticipate that AmerisourceBergen Corp. will post $5.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 5th. Investors of record on Monday, May 22nd will be issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, May 18th. AmerisourceBergen Corp.’s dividend payout ratio is presently 24.37%.
ABC has been the topic of several analyst reports. Morgan Stanley raised AmerisourceBergen Corp. from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 31st. Vetr raised AmerisourceBergen Corp. from a “buy” rating to a “strong-buy” rating and set a $94.25 target price on the stock in a report on Monday, January 23rd. Zacks Investment Research raised AmerisourceBergen Corp. from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, January 17th. Credit Suisse Group AG reissued a “buy” rating on shares of AmerisourceBergen Corp. in a report on Sunday, February 5th. Finally, Bank of America Corp raised AmerisourceBergen Corp. from a “neutral” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Thursday, January 12th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $93.92.
In related news, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $88.35, for a total transaction of $1,325,250.00. Following the completion of the sale, the chairman now directly owns 253,876 shares in the company, valued at approximately $22,429,944.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lazarus Krikorian sold 9,958 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $91.83, for a total value of $914,443.14. Following the sale, the insider now owns 15,743 shares of the company’s stock, valued at $1,445,679.69. The disclosure for this sale can be found here. Insiders have sold a total of 51,958 shares of company stock valued at $4,537,753 over the last 90 days. 27.40% of the stock is currently owned by company insiders.
AmerisourceBergen Corp. Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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