TD Asset Management Inc. reduced its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 354,523 shares of the company’s stock after selling 9,774 shares during the quarter. TD Asset Management Inc. owned about 0.17% of AmerisourceBergen worth $30,226,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in ABC. Rational Advisors LLC increased its stake in shares of AmerisourceBergen by 1,627.3% in the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock valued at $30,000 after acquiring an additional 358 shares during the last quarter. Trust Co. of Vermont increased its stake in shares of AmerisourceBergen by 963.8% in the 1st quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock valued at $40,000 after acquiring an additional 453 shares during the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of AmerisourceBergen in the 1st quarter valued at about $48,000. Winslow Evans & Crocker Inc. increased its stake in shares of AmerisourceBergen by 212.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 718 shares of the company’s stock valued at $62,000 after acquiring an additional 488 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of AmerisourceBergen by 139.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 777 shares of the company’s stock valued at $66,000 after acquiring an additional 452 shares during the last quarter. 66.03% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.58, for a total transaction of $1,783,089.90. Following the completion of the sale, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at approximately $13,838,676.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John G. Chou sold 13,997 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.58, for a total value of $1,253,851.26. Following the sale, the insider now directly owns 65,782 shares of the company’s stock, valued at $5,892,751.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,379 shares of company stock valued at $16,502,190. 27.80% of the stock is owned by company insiders.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.14. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The business had revenue of $45.24 billion during the quarter, compared to analysts’ expectations of $45.15 billion. During the same period in the prior year, the business earned $1.54 EPS. AmerisourceBergen’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts predict that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.83%. AmerisourceBergen’s payout ratio is 24.65%.
A number of analysts have recently commented on the company. ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Wednesday, June 12th. Finally, Argus lowered their price target on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. AmerisourceBergen currently has a consensus rating of “Hold” and a consensus target price of $88.00.
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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