BlackRock Inc. Trims Position in AmerisourceBergen Co. (NYSE:ABC)

BlackRock Inc. cut its position in AmerisourceBergen Co. (NYSE:ABC) by 3.3% in the third quarter, HoldingsChannel.com reports. The firm owned 11,019,808 shares of the company’s stock after selling 381,160 shares during the quarter. BlackRock Inc. owned about 0.05% of AmerisourceBergen worth $1,316,314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABC. Bogart Wealth LLC increased its stake in shares of AmerisourceBergen by 63.6% in the third quarter. Bogart Wealth LLC now owns 229 shares of the company’s stock worth $27,000 after purchasing an additional 89 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of AmerisourceBergen in the 2nd quarter worth $32,000. Evermay Wealth Management LLC bought a new stake in shares of AmerisourceBergen in the 2nd quarter worth about $40,000. Allworth Financial LP bought a new stake in shares of AmerisourceBergen in the 3rd quarter worth about $47,000. Finally, AdvisorNet Financial Inc bought a new stake in AmerisourceBergen during the 3rd quarter valued at about $48,000. 62.99% of the stock is owned by hedge funds and other institutional investors.

Shares of ABC opened at $136.20 on Friday. The company’s 50-day simple moving average is $125.93 and its 200-day simple moving average is $122.23. The stock has a market capitalization of $28.35 billion, a PE ratio of 18.43, a P/E/G ratio of 1.58 and a beta of 0.51. AmerisourceBergen Co. has a 1 year low of $100.71 and a 1 year high of $136.95. The company has a debt-to-equity ratio of 10.92, a quick ratio of 0.57 and a current ratio of 0.94.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, November 4th. The company reported $2.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.03. The company had revenue of $58.90 billion for the quarter, compared to analyst estimates of $57.05 billion. AmerisourceBergen had a net margin of 0.72% and a return on equity of 2,040.08%. The firm’s revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 earnings per share. On average, sell-side analysts predict that AmerisourceBergen Co. will post 10.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 29th. Investors of record on Monday, November 15th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.35%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, November 12th. AmerisourceBergen’s dividend payout ratio (DPR) is 24.90%.

ABC has been the topic of a number of research reports. Credit Suisse Group raised their target price on shares of AmerisourceBergen from $144.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, November 8th. Scotiabank downgraded shares of AmerisourceBergen from an “outperform” rating to a “sector perform” rating in a research report on Thursday, January 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AmerisourceBergen from $136.00 to $153.00 and gave the stock a “hold” rating in a research report on Friday, November 12th. TheStreet upgraded shares of AmerisourceBergen from a “d” rating to an “a-” rating in a research note on Thursday, November 4th. Finally, Morgan Stanley lifted their price objective on shares of AmerisourceBergen from $141.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, December 17th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, AmerisourceBergen has a consensus rating of “Buy” and an average target price of $144.75.

In other news, EVP Gina Clark sold 16,027 shares of the company’s stock in a transaction on Friday, November 12th. The stock was sold at an average price of $125.83, for a total value of $2,016,677.41. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert P. Mauch sold 41,214 shares of AmerisourceBergen stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $125.34, for a total value of $5,165,762.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,865 shares of company stock worth $20,109,602. 28.40% of the stock is currently owned by insiders.

About AmerisourceBergen

AmerisourceBergen Corp. engages provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name; specialty brand-name and generic pharmaceuticals; over-the-counter healthcare products; home healthcare supplies and equipment; and related services to healthcare providers, including acute care hospitals and health systems; independent and chain retail pharmacies; mail order pharmacies; medical clinics; and long-term care and alternate site pharmacies.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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