Fort L.P. reduced its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 40.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,336 shares of the company’s stock after selling 14,519 shares during the period. Fort L.P.’s holdings in AmerisourceBergen were worth $1,959,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Darrell & King LLC purchased a new stake in AmerisourceBergen in the fourth quarter worth about $220,000. Burgundy Asset Management Ltd. increased its stake in shares of AmerisourceBergen by 0.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,714,628 shares of the company’s stock valued at $249,257,000 after purchasing an additional 15,680 shares in the last quarter. Tavio Capital LLC bought a new position in shares of AmerisourceBergen during the fourth quarter valued at approximately $35,323,000. LVW Advisors LLC increased its stake in shares of AmerisourceBergen by 3.6% during the fourth quarter. LVW Advisors LLC now owns 30,839 shares of the company’s stock valued at $2,832,000 after purchasing an additional 1,058 shares in the last quarter. Finally, RiverGlades Family Offices LLC bought a new position in shares of AmerisourceBergen during the fourth quarter valued at approximately $511,000. Institutional investors own 65.98% of the company’s stock.
AmerisourceBergen Corp. (NYSE ABC) opened at $100.58 on Tuesday. The firm has a market cap of $21,619.82, a price-to-earnings ratio of 16.19, a PEG ratio of 1.57 and a beta of 1.02. AmerisourceBergen Corp. has a one year low of $71.90 and a one year high of $106.27. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.50 and a current ratio of 0.95.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, February 16th. AmerisourceBergen’s dividend payout ratio (DPR) is 32.76%.
In related news, Director Richard W. Gochnauer sold 2,278 shares of AmerisourceBergen stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $101.13, for a total transaction of $230,374.14. Following the transaction, the director now owns 13,225 shares in the company, valued at approximately $1,337,444.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dale Danilewitz sold 21,500 shares of AmerisourceBergen stock in a transaction on Friday, February 16th. The shares were sold at an average price of $97.30, for a total transaction of $2,091,950.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,396 shares of company stock worth $20,261,915. 27.30% of the stock is owned by corporate insiders.
ABC has been the subject of several analyst reports. TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b” rating in a research report on Tuesday, February 6th. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Wednesday, January 3rd. Leerink Swann set a $105.00 price target on shares of AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Goldman Sachs Group raised shares of AmerisourceBergen from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. Finally, Cowen set a $107.00 price target on shares of AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.17.
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AmerisourceBergen Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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