Liberty Mutual Group Asset Management Inc. Lowers Holdings in AmerisourceBergen Corp. (ABC)
Liberty Mutual Group Asset Management Inc. decreased its position in AmerisourceBergen Corp. (NYSE:ABC) by 11.2% during the 4th quarter, Holdings Channel reports. The firm owned 6,462 shares of the company’s stock after selling 813 shares during the quarter. Liberty Mutual Group Asset Management Inc.’s holdings in AmerisourceBergen were worth $593,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of ABC. BlackRock Inc. boosted its stake in shares of AmerisourceBergen by 5.8% during the fourth quarter. BlackRock Inc. now owns 12,384,803 shares of the company’s stock valued at $1,137,171,000 after acquiring an additional 679,417 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AmerisourceBergen by 107.3% during the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after acquiring an additional 2,776,287 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of AmerisourceBergen by 11.4% during the third quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock valued at $308,358,000 after acquiring an additional 381,936 shares during the last quarter. Harding Loevner LP boosted its stake in shares of AmerisourceBergen by 89.6% during the third quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock valued at $134,939,000 after acquiring an additional 1,496,761 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of AmerisourceBergen by 23.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,864,488 shares of the company’s stock valued at $263,016,000 after acquiring an additional 550,215 shares during the last quarter. 65.98% of the stock is currently owned by institutional investors.
ABC has been the topic of a number of analyst reports. TheStreet raised AmerisourceBergen from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Wednesday, January 3rd. Leerink Swann set a $105.00 price objective on AmerisourceBergen and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Goldman Sachs Group raised AmerisourceBergen from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Cowen set a $107.00 price objective on AmerisourceBergen and gave the company a “buy” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. AmerisourceBergen currently has an average rating of “Buy” and a consensus target price of $102.46.
AmerisourceBergen (NYSE:ABC) last released its earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.20. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The firm had revenue of $40.47 billion for the quarter, compared to the consensus estimate of $40.42 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. analysts predict that AmerisourceBergen Corp. will post 6.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, February 16th. This represents a $1.52 annualized dividend and a yield of 1.62%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 32.76%.
In other news, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $85.73, for a total value of $994,468.00. Following the transaction, the chief financial officer now directly owns 56,436 shares in the company, valued at approximately $4,838,258.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard W. Gochnauer sold 2,278 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $101.13, for a total value of $230,374.14. Following the completion of the transaction, the director now owns 13,225 shares in the company, valued at $1,337,444.25. The disclosure for this sale can be found here. Insiders have sold 179,609 shares of company stock worth $16,924,061 over the last quarter. 27.30% of the stock is currently owned by company insiders.
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AmerisourceBergen Company Profile
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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