AmerisourceBergen Corp. (ABC) Position Decreased by Ceredex Value Advisors LLC
Ceredex Value Advisors LLC cut its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 29.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,723,535 shares of the company’s stock after selling 714,737 shares during the quarter. AmerisourceBergen accounts for approximately 1.7% of Ceredex Value Advisors LLC’s holdings, making the stock its 9th biggest position. Ceredex Value Advisors LLC owned approximately 0.81% of AmerisourceBergen worth $128,231,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake in shares of AmerisourceBergen by 8.2% during the 2nd quarter. FMR LLC now owns 4,460,016 shares of the company’s stock worth $380,305,000 after purchasing an additional 338,690 shares during the last quarter. DNB Asset Management AS increased its stake in shares of AmerisourceBergen by 11.8% during the 3rd quarter. DNB Asset Management AS now owns 23,530 shares of the company’s stock worth $2,170,000 after purchasing an additional 2,482 shares during the last quarter. Bank of Montreal Can increased its stake in shares of AmerisourceBergen by 25.9% during the 3rd quarter. Bank of Montreal Can now owns 271,699 shares of the company’s stock worth $25,056,000 after purchasing an additional 55,866 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of AmerisourceBergen during the 3rd quarter worth approximately $603,000. Finally, Raymond James Trust N.A. increased its stake in shares of AmerisourceBergen by 62.1% during the 3rd quarter. Raymond James Trust N.A. now owns 3,851 shares of the company’s stock worth $355,000 after purchasing an additional 1,475 shares during the last quarter. 68.51% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Wednesday, December 19th. ValuEngine upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Royal Bank of Canada reduced their price objective on shares of AmerisourceBergen from $90.00 to $87.00 and set a “hold” rating for the company in a research note on Friday, November 30th. TheStreet lowered shares of AmerisourceBergen from a “b-” rating to a “c+” rating in a research note on Tuesday, January 8th. Finally, Barclays reiterated a “hold” rating and issued a $84.00 price objective on shares of AmerisourceBergen in a research note on Sunday, January 6th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. AmerisourceBergen has a consensus rating of “Hold” and a consensus price target of $96.00.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, January 31st. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.10. AmerisourceBergen had a net margin of 0.69% and a return on equity of 44.53%. The business had revenue of $45.39 billion during the quarter, compared to analyst estimates of $43.52 billion. Sell-side analysts forecast that AmerisourceBergen Corp. will post 6.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Tuesday, February 19th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.85%. AmerisourceBergen’s dividend payout ratio (DPR) is currently 24.65%.
In other news, Chairman Steven H. Collis sold 21,350 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $80.72, for a total transaction of $1,723,372.00. Following the completion of the transaction, the chairman now directly owns 155,929 shares in the company, valued at approximately $12,586,588.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dale Danilewitz sold 5,703 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $86.80, for a total transaction of $495,020.40. Following the transaction, the insider now owns 8,960 shares of the company’s stock, valued at $777,728. The disclosure for this sale can be found here. Insiders have sold a total of 136,178 shares of company stock valued at $11,478,686 over the last 90 days. Company insiders own 27.80% of the company’s stock.
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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