Earnest Partners LLC Has $19.01 Million Holdings in AmerisourceBergen Corporation (Holding Co) (ABC)
Earnest Partners LLC lessened its holdings in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 229,718 shares of the company’s stock after selling 6,128 shares during the period. Earnest Partners LLC owned about 0.10% of AmerisourceBergen worth $19,009,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in shares of AmerisourceBergen by 3.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after acquiring an additional 34 shares during the period. Sun Life Financial INC lifted its holdings in shares of AmerisourceBergen by 15,000.0% during the 2nd quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after acquiring an additional 1,200 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of AmerisourceBergen by 29.0% during the 2nd quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after acquiring an additional 375 shares during the period. Intl Fcstone Inc. bought a new stake in shares of AmerisourceBergen during the 2nd quarter worth approximately $201,000. Finally, Pinnacle Associates Ltd. bought a new stake in shares of AmerisourceBergen during the 2nd quarter worth approximately $203,000. Hedge funds and other institutional investors own 67.94% of the company’s stock.
In other news, insider Peyton R. Howell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $86.20, for a total transaction of $258,600.00. Following the completion of the transaction, the insider now owns 49,189 shares of the company’s stock, valued at $4,240,091.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dale Danilewitz sold 2,012 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $85.00, for a total transaction of $171,020.00. The disclosure for this sale can be found here. Insiders have sold 168,407 shares of company stock valued at $13,569,358 in the last ninety days. Insiders own 27.40% of the company’s stock.
AmerisourceBergen Corporation (NYSE:ABC) opened at $86.70 on Monday. The stock has a market cap of $18,907.71, a price-to-earnings ratio of 14.72, a PEG ratio of 1.50 and a beta of 1.00. AmerisourceBergen Corporation has a 52 week low of $71.90 and a 52 week high of $97.85. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion during the quarter, compared to the consensus estimate of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 earnings per share. sell-side analysts forecast that AmerisourceBergen Corporation will post 6.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.52 annualized dividend and a dividend yield of 1.75%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio (DPR) is presently 82.16%.
A number of analysts have recently weighed in on ABC shares. Needham & Company LLC upped their price target on shares of AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Jefferies Group set a $95.00 price target on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Tuesday, August 29th. Robert W. Baird reaffirmed a “buy” rating and set a $96.00 price target on shares of AmerisourceBergen in a report on Monday, November 6th. Mizuho set a $92.00 price target on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Tuesday, October 24th. Finally, ValuEngine raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $91.95.
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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