Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $726,000 Stake in AmerisourceBergen Corp. (ABC)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in AmerisourceBergen Corp. (NYSE:ABC) by 6.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,132 shares of the company’s stock after buying an additional 576 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in AmerisourceBergen were worth $726,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of ABC. Acima Private Wealth LLC acquired a new position in shares of AmerisourceBergen in the 4th quarter valued at approximately $26,000. Riverview Trust Co raised its position in shares of AmerisourceBergen by 127.3% in the 1st quarter. Riverview Trust Co now owns 391 shares of the company’s stock valued at $31,000 after buying an additional 219 shares in the last quarter. Private Capital Group LLC grew its holdings in shares of AmerisourceBergen by 201.3% during the 4th quarter. Private Capital Group LLC now owns 482 shares of the company’s stock valued at $36,000 after purchasing an additional 322 shares during the last quarter. JNBA Financial Advisors bought a new stake in shares of AmerisourceBergen during the 4th quarter valued at approximately $37,000. Finally, Trust Co. of Vermont grew its holdings in shares of AmerisourceBergen by 963.8% during the 1st quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock valued at $40,000 after purchasing an additional 453 shares during the last quarter. Institutional investors own 65.71% of the company’s stock.
In other AmerisourceBergen news, insider Dale Danilewitz sold 543 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $81.16, for a total transaction of $44,069.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Gochnauer sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.69, for a total transaction of $443,795.00. Following the sale, the director now directly owns 12,364 shares in the company, valued at $997,651.16. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 2,018 shares of company stock worth $156,471 and have sold 46,129 shares worth $3,723,512. Insiders own 27.80% of the company’s stock.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.15. AmerisourceBergen had a net margin of 0.53% and a return on equity of 46.24%. The company had revenue of $43.32 billion for the quarter, compared to analyst estimates of $43.44 billion. During the same period in the previous year, the firm posted $1.94 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that AmerisourceBergen Corp. will post 6.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, May 17th. AmerisourceBergen’s payout ratio is 24.65%.
ABC has been the topic of several research reports. TheStreet lowered shares of AmerisourceBergen from a “b” rating to a “c+” rating in a report on Tuesday, March 19th. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Finally, Guggenheim initiated coverage on shares of AmerisourceBergen in a report on Thursday, April 11th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $86.38.
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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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