Parsons Capital Management Inc. RI grew its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,422 shares of the company’s stock after acquiring an additional 1,205 shares during the period. Parsons Capital Management Inc. RI’s holdings in AmerisourceBergen were worth $1,400,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rational Advisors LLC raised its position in AmerisourceBergen by 1,627.3% in the first quarter. Rational Advisors LLC now owns 380 shares of the company’s stock worth $30,000 after acquiring an additional 358 shares during the period. Trust Co. of Vermont raised its position in AmerisourceBergen by 963.8% in the first quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock worth $40,000 after acquiring an additional 453 shares during the period. Financial Gravity Wealth Inc. bought a new position in AmerisourceBergen in the first quarter worth approximately $48,000. Winslow Evans & Crocker Inc. raised its position in AmerisourceBergen by 212.2% in the second quarter. Winslow Evans & Crocker Inc. now owns 718 shares of the company’s stock worth $62,000 after acquiring an additional 488 shares during the period. Finally, Valeo Financial Advisors LLC raised its position in AmerisourceBergen by 139.1% in the second quarter. Valeo Financial Advisors LLC now owns 777 shares of the company’s stock worth $66,000 after acquiring an additional 452 shares during the period. Institutional investors and hedge funds own 66.03% of the company’s stock.
A number of brokerages have recently issued reports on ABC. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Wednesday, June 12th. TheStreet raised shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, Argus cut their target price on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $88.00.
AmerisourceBergen (NYSE:ABC) last released its earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. The firm had revenue of $45.24 billion during the quarter, compared to analyst estimates of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.54 EPS. Research analysts forecast that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.83%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 24.65%.
In other news, insider Dale Danilewitz sold 543 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $81.16, for a total value of $44,069.88. Following the completion of the sale, the insider now owns 1,085 shares in the company, valued at approximately $88,058.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction dated 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 owns 154,484 shares of the company’s stock, valued at approximately $13,838,676.72. The disclosure for this sale can be found here. Insiders sold a total of 191,379 shares of company stock valued at $16,502,190 in the last 90 days. Company insiders own 27.80% of the company’s stock.
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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