AmerisourceBergen Corp. (ABC) Shares Sold by Alpha Quant Advisors LLC
Alpha Quant Advisors LLC cut its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 5.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,466 shares of the company’s stock after selling 851 shares during the period. Alpha Quant Advisors LLC’s holdings in AmerisourceBergen were worth $1,070,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Keybank National Association OH grew its holdings in shares of AmerisourceBergen by 4.0% in the 1st quarter. Keybank National Association OH now owns 9,401 shares of the company’s stock worth $748,000 after acquiring an additional 361 shares during the last quarter. Cornerstone Advisory LLC grew its holdings in shares of AmerisourceBergen by 14.7% in the 1st quarter. Cornerstone Advisory LLC now owns 11,032 shares of the company’s stock worth $877,000 after acquiring an additional 1,417 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of AmerisourceBergen by 1.6% in the 1st quarter. New York State Common Retirement Fund now owns 364,977 shares of the company’s stock worth $29,023,000 after acquiring an additional 5,700 shares during the last quarter. Martin Capital Partners LLC acquired a new position in shares of AmerisourceBergen in the 1st quarter worth $159,000. Finally, Semmax Financial Advisors Inc. grew its holdings in shares of AmerisourceBergen by 101.3% in the 1st quarter. Semmax Financial Advisors Inc. now owns 5,122 shares of the company’s stock worth $407,000 after acquiring an additional 2,577 shares during the last quarter. Institutional investors own 66.73% of the company’s stock.
A number of brokerages recently issued reports on ABC. ValuEngine upgraded AmerisourceBergen from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Bank of America cut AmerisourceBergen from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $95.00 to $76.00 in a report on Wednesday, April 10th. Wolfe Research initiated coverage on AmerisourceBergen in a report on Tuesday, April 2nd. They issued a “market perform” rating on the stock. Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. Finally, Guggenheim initiated coverage on AmerisourceBergen in a research report on Thursday, April 11th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.38.
Shares of AmerisourceBergen stock opened at $79.23 on Tuesday. The firm has a market capitalization of $16.34 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.51 and a beta of 1.07. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.43. AmerisourceBergen Corp. has a 12 month low of $69.36 and a 12 month high of $94.88.
AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, May 2nd. The company reported $2.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.15. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $43.44 billion. AmerisourceBergen had a return on equity of 46.24% and a net margin of 0.53%. AmerisourceBergen’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 earnings per share. As a group, analysts predict that AmerisourceBergen Corp. will post 6.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $0.40 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 24.65%.
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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