Parametric Portfolio Associates LLC Lowers Position in AmerisourceBergen Corp. (NYSE:ABC)

Parametric Portfolio Associates LLC cut its stake in AmerisourceBergen Corp. (NYSE:ABC) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 926,294 shares of the company’s stock after selling 106,674 shares during the quarter. Parametric Portfolio Associates LLC owned 0.44% of AmerisourceBergen worth $78,976,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of AmerisourceBergen by 8.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 960,038 shares of the company’s stock valued at $71,426,000 after acquiring an additional 73,642 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AmerisourceBergen by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 1,954,861 shares of the company’s stock valued at $145,173,000 after acquiring an additional 114,505 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of AmerisourceBergen by 238.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 10,240 shares of the company’s stock valued at $813,000 after acquiring an additional 7,218 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of AmerisourceBergen by 1.7% in the first quarter. Stephens Inc. AR now owns 26,786 shares of the company’s stock valued at $2,130,000 after acquiring an additional 456 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in shares of AmerisourceBergen by 3.0% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 13,845 shares of the company’s stock valued at $1,101,000 after acquiring an additional 400 shares in the last quarter. 66.10% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on ABC. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Argus reduced their target price on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Morgan Stanley reduced their target price on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Wednesday, June 12th. Finally, ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. AmerisourceBergen presently has a consensus rating of “Hold” and a consensus price target of $87.38.



In other AmerisourceBergen news, Director Henry Wadsworth Mcgee III sold 10,585 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $91.97, for a total transaction of $973,502.45. Following the sale, the director now owns 24,510 shares in the company, valued at $2,254,184.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $86.89, for a total value of $1,729,545.45. Following the sale, the chief executive officer now owns 154,484 shares in the company, valued at approximately $13,423,114.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,215 shares of company stock worth $16,240,235. Company insiders own 27.80% of the company’s stock.

NYSE ABC traded down $0.83 on Friday, hitting $83.81. 73,981 shares of the stock traded hands, compared to its average volume of 1,158,319. The business’s fifty day moving average is $86.21 and its two-hundred day moving average is $82.00. AmerisourceBergen Corp. has a 12 month low of $69.36 and a 12 month high of $94.85. The firm has a market capitalization of $18.05 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.54 and a beta of 1.00. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.14. The business had revenue of $45.24 billion during the quarter, compared to analyst estimates of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. AmerisourceBergen’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 earnings per share. Analysts expect that AmerisourceBergen Corp. will post 7.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.91%. AmerisourceBergen’s dividend payout ratio is currently 24.65%.

AmerisourceBergen Company Profile

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.

Further Reading: Growth Stocks

Want to see what other hedge funds are holding ABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmerisourceBergen Corp. (NYSE:ABC).

Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.