159,636 Shares in AmerisourceBergen Corp. (ABC) Purchased by Segall Bryant & Hamill LLC
Segall Bryant & Hamill LLC bought a new stake in AmerisourceBergen Corp. (NYSE:ABC) during the second quarter, Holdings Channel reports. The firm bought 159,636 shares of the company’s stock, valued at approximately $13,612,000.
A number of other institutional investors have also added to or reduced their stakes in ABC. IBM Retirement Fund boosted its stake in shares of AmerisourceBergen by 48.8% during the first quarter. IBM Retirement Fund now owns 3,502 shares of the company’s stock valued at $302,000 after purchasing an additional 1,149 shares in the last quarter. Banco de Sabadell S.A acquired a new position in shares of AmerisourceBergen in the first quarter worth approximately $795,000. Atria Investments LLC lifted its stake in shares of AmerisourceBergen by 19.0% in the second quarter. Atria Investments LLC now owns 13,111 shares of the company’s stock worth $1,118,000 after acquiring an additional 2,095 shares during the period. Fernwood Investment Management LLC lifted its stake in shares of AmerisourceBergen by 4.7% in the first quarter. Fernwood Investment Management LLC now owns 15,650 shares of the company’s stock worth $1,349,000 after acquiring an additional 700 shares during the period. Finally, Boston Advisors LLC lifted its stake in shares of AmerisourceBergen by 60.4% in the second quarter. Boston Advisors LLC now owns 270,029 shares of the company’s stock worth $23,025,000 after acquiring an additional 101,679 shares during the period. Hedge funds and other institutional investors own 66.68% of the company’s stock.
A number of equities analysts recently commented on the company. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Morgan Stanley cut their price objective on AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 3rd. Robert W. Baird downgraded AmerisourceBergen from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. Finally, Mizuho restated a “hold” rating and set a $90.00 price objective on shares of AmerisourceBergen in a report on Sunday, August 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $101.80.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.08. AmerisourceBergen had a return on equity of 48.65% and a net margin of 0.69%. The business had revenue of $43.14 billion for the quarter, compared to analysts’ expectations of $43.05 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. research analysts predict that AmerisourceBergen Corp. will post 6.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Monday, August 20th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 17th. This represents a $1.52 dividend on an annualized basis and a yield of 1.73%. AmerisourceBergen’s dividend payout ratio (DPR) is 25.85%.
In related news, EVP John G. Chou sold 6,974 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $83.94, for a total transaction of $585,397.56. Following the sale, the executive vice president now owns 56,126 shares of the company’s stock, valued at approximately $4,711,216.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert P. Mauch sold 1,000 shares of the stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $90.00, for a total value of $90,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 109,656 shares of company stock worth $9,132,116 in the last three months. 27.30% of the stock is currently owned by insiders.
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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