Candriam Luxembourg S.C.A. lowered its position in AmerisourceBergen Corp. (NYSE:ABC) by 56.3% during the second quarter, Holdings Channel reports. The fund owned 13,900 shares of the company’s stock after selling 17,875 shares during the period. Candriam Luxembourg S.C.A.’s holdings in AmerisourceBergen Corp. were worth $1,103,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ABC. K.J. Harrison & Partners Inc purchased a new stake in AmerisourceBergen Corp. during the second quarter worth approximately $880,000. HealthInvest Partners AB purchased a new stake in AmerisourceBergen Corp. during the second quarter worth approximately $12,691,000. PGGM Investments increased its stake in AmerisourceBergen Corp. by 72.8% in the second quarter. PGGM Investments now owns 298,850 shares of the company’s stock worth $23,705,000 after buying an additional 125,950 shares during the last quarter. HL Financial Services LLC increased its stake in AmerisourceBergen Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 2,949 shares of the company’s stock worth $234,000 after buying an additional 34 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in AmerisourceBergen Corp. by 1,487.3% in the second quarter. JFS Wealth Advisors LLC now owns 5,016 shares of the company’s stock worth $398,000 after buying an additional 4,700 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded up 0.14% during midday trading on Thursday, hitting $80.14. 2,249,064 shares of the stock were exchanged. The firm has a market cap of $17.21 billion, a P/E ratio of 10.81 and a beta of 0.74. The stock’s 50 day moving average is $84.82 and its 200 day moving average is $83.10. AmerisourceBergen Corp. has a 12-month low of $73.31 and a 12-month high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last released its earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.10. AmerisourceBergen Corp. had a net margin of 1.14% and a return on equity of 83.93%. The company earned $36.90 billion during the quarter, compared to the consensus estimate of $36.57 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts forecast that AmerisourceBergen Corp. will post $5.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, August 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.70%. AmerisourceBergen Corp.’s dividend payout ratio is currently 18.73%.
A number of analysts have recently commented on the company. Avondale Partners upgraded AmerisourceBergen Corp. from a “market perform” rating to an “outperform” rating in a report on Tuesday. Morgan Stanley restated a “hold” rating and set a $89.00 price objective on shares of AmerisourceBergen Corp. in a report on Monday, September 12th. Credit Suisse Group AG restated a “buy” rating and set a $98.00 price objective on shares of AmerisourceBergen Corp. in a report on Friday, August 26th. Leerink Swann upped their price objective on AmerisourceBergen Corp. to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 26th. Finally, Mizuho upped their price target on shares of AmerisourceBergen Corp. from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, August 11th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $97.50.
In other news, Director Henry Wadsworth Mcgee III sold 3,351 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $82.10, for a total transaction of $275,117.10. Following the transaction, the director now owns 10,901 shares in the company, valued at approximately $894,972.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Chou sold 63,750 shares of the firm’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $85.70, for a total transaction of $5,463,375.00. Following the transaction, the insider now owns 104,043 shares in the company, valued at approximately $8,916,485.10. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
About AmerisourceBergen Corp.
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.
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