AmerisourceBergen Corp. (NYSE:ABC) Shares Sold by Boston Private Wealth LLC

Boston Private Wealth LLC trimmed its position in AmerisourceBergen Corp. (NYSE:ABC) by 28.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,015 shares of the company’s stock after selling 4,756 shares during the period. Boston Private Wealth LLC’s holdings in AmerisourceBergen were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sompo Japan Nipponkoa Asset Management CO. LTD. increased its position in shares of AmerisourceBergen by 4.2% in the 3rd quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 22,070 shares of the company’s stock valued at $1,817,000 after acquiring an additional 890 shares during the period. Citizens Financial Group Inc RI increased its position in shares of AmerisourceBergen by 28.0% in the 3rd quarter. Citizens Financial Group Inc RI now owns 581 shares of the company’s stock valued at $47,000 after acquiring an additional 127 shares during the period. Mackay Shields LLC increased its position in shares of AmerisourceBergen by 13.3% in the 3rd quarter. Mackay Shields LLC now owns 352,107 shares of the company’s stock valued at $28,990,000 after acquiring an additional 41,416 shares during the period. IFM Investors Pty Ltd increased its position in shares of AmerisourceBergen by 38.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 16,558 shares of the company’s stock valued at $1,363,000 after acquiring an additional 4,561 shares during the period. Finally, Atlas Capital Advisors LLC increased its position in shares of AmerisourceBergen by 3.2% in the 3rd quarter. Atlas Capital Advisors LLC now owns 4,970 shares of the company’s stock valued at $409,000 after acquiring an additional 155 shares during the period. 65.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ABC opened at $86.07 on Friday. The business’s 50-day moving average is $84.48 and its two-hundred day moving average is $83.73. The company has a market capitalization of $18.10 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.44 and a beta of 0.98. 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 Corp. has a fifty-two week low of $69.36 and a fifty-two week high of $94.75.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.03. The company had revenue of $45.64 billion for the quarter, compared to the consensus estimate of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $1.45 EPS. Analysts forecast that AmerisourceBergen Corp. will post 7.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, November 15th. AmerisourceBergen’s dividend payout ratio is currently 24.65%.

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In other news, EVP Gina Clark sold 7,800 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $84.96, for a total transaction of $662,688.00. Following the sale, the executive vice president now directly owns 23,595 shares of the company’s stock, valued at approximately $2,004,631.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.89, for a total transaction of $1,729,545.45. Following the sale, the chief executive officer now directly owns 154,484 shares in the company, valued at $13,423,114.76. The disclosure for this sale can be found here. Insiders have sold a total of 95,509 shares of company stock worth $8,088,531 over the last ninety days. 27.80% of the stock is owned by insiders.

Several equities analysts recently issued reports on ABC shares. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Morgan Stanley cut their target price on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, September 6th. Deutsche Bank started coverage on AmerisourceBergen in a research report on Thursday, September 12th. They issued a “hold” rating and a $91.00 target price on the stock. Finally, TheStreet downgraded AmerisourceBergen from a “b” rating to a “c+” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. AmerisourceBergen has a consensus rating of “Hold” and an average target price of $87.38.

About AmerisourceBergen

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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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