Providence Capital Advisors LLC cut its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 6.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,150 shares of the company’s stock after selling 350 shares during the quarter. Providence Capital Advisors LLC’s holdings in AmerisourceBergen were worth $439,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Alpha Windward LLC increased its position in shares of AmerisourceBergen by 6.6% in the second quarter. Alpha Windward LLC now owns 1,845 shares of the company’s stock valued at $161,000 after buying an additional 114 shares in the last quarter. Capital Wealth Planning LLC lifted its holdings in AmerisourceBergen by 1.1% during the second quarter. Capital Wealth Planning LLC now owns 10,236 shares of the company’s stock valued at $873,000 after purchasing an additional 115 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in AmerisourceBergen by 1.1% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,424 shares of the company’s stock valued at $988,000 after purchasing an additional 138 shares in the last quarter. Rothschild Investment Corp IL grew its position in shares of AmerisourceBergen by 1.1% in the second quarter. Rothschild Investment Corp IL now owns 12,345 shares of the company’s stock valued at $1,053,000 after purchasing an additional 140 shares during the period. Finally, Nicholas Hoffman & Company LLC. grew its position in shares of AmerisourceBergen by 1.3% in the second quarter. Nicholas Hoffman & Company LLC. now owns 10,954 shares of the company’s stock valued at $934,000 after purchasing an additional 141 shares during the period. 66.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AmerisourceBergen stock traded up $1.91 during trading hours on Wednesday, reaching $87.79. 83,606 shares of the company’s stock were exchanged, compared to its average volume of 1,134,135. The business has a fifty day moving average of $86.16 and a two-hundred day moving average of $81.99. The company has a market capitalization of $18.29 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. AmerisourceBergen Corp. has a 1 year low of $69.36 and a 1 year high of $94.85.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. The firm had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.54 earnings per share. As a group, research analysts predict that AmerisourceBergen Corp. will post 7.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a $0.40 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.82%. AmerisourceBergen’s payout ratio is 24.65%.
Several research analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Wednesday, June 12th. Argus cut their price objective on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Finally, ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. 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. The stock has a consensus rating of “Hold” and a consensus target price of $86.86.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 107,826 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total value of $9,292,444.68. Following the completion of the sale, the chairman now directly owns 242,405 shares in the company, valued at approximately $20,890,462.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Henry Wadsworth Mcgee III sold 10,585 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $91.97, for a total value of $973,502.45. Following the completion of the sale, the director now owns 24,510 shares of the company’s stock, valued at $2,254,184.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,215 shares of company stock valued at $16,240,235. 27.80% of the stock is owned by insiders.
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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