Paloma Partners Management Co Sells 17,359 Shares of AmerisourceBergen (ABC)

Paloma Partners Management Co reduced its holdings in shares of AmerisourceBergen (NYSE:ABC) by 81.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,841 shares of the company’s stock after selling 17,359 shares during the period. Paloma Partners Management Co’s holdings in AmerisourceBergen were worth $353,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of AmerisourceBergen by 5.8% during the 4th quarter. BlackRock Inc. now owns 12,384,803 shares of the company’s stock valued at $1,137,171,000 after acquiring an additional 679,417 shares in the last quarter. Vulcan Value Partners LLC boosted its position in shares of AmerisourceBergen by 29.4% during the 4th quarter. Vulcan Value Partners LLC now owns 7,530,523 shares of the company’s stock valued at $691,452,000 after acquiring an additional 1,710,816 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of AmerisourceBergen by 107.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after acquiring an additional 2,776,287 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of AmerisourceBergen by 11.4% during the 3rd quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock valued at $308,358,000 after acquiring an additional 381,936 shares in the last quarter. Finally, Harding Loevner LP boosted its position in shares of AmerisourceBergen by 89.6% during the 3rd quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock valued at $134,939,000 after acquiring an additional 1,496,761 shares in the last quarter. Institutional investors and hedge funds own 67.31% of the company’s stock.

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In other AmerisourceBergen news, insider Peyton R. Howell sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $91.60, for a total value of $274,800.00. Following the completion of the transaction, the insider now directly owns 49,189 shares of the company’s stock, valued at $4,505,712.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dale Danilewitz sold 21,500 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was 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. Over the last ninety days, insiders sold 156,809 shares of company stock valued at $14,988,589. Insiders own 27.30% of the company’s stock.

Several brokerages have recently weighed in on ABC. Zacks Investment Research lowered shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Barclays began coverage on shares of AmerisourceBergen in a research report on Thursday, March 8th. They set an “equal weight” rating and a $104.00 target price on the stock. Argus lifted their target price on shares of AmerisourceBergen from $93.96 to $115.00 and gave the company a “buy” rating in a research report on Monday, March 5th. Cowen reiterated a “buy” rating and set a $108.00 target price on shares of AmerisourceBergen in a research report on Tuesday, February 27th. Finally, Bank of America assumed coverage on shares of AmerisourceBergen in a research report on Tuesday, February 27th. They set a “buy” rating and a $111.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. AmerisourceBergen presently has a consensus rating of “Buy” and an average target price of $103.34.

AmerisourceBergen (ABC) opened at $84.03 on Monday. AmerisourceBergen has a 1-year low of $71.90 and a 1-year high of $106.27. The stock has a market cap of $18,458.79, a PE ratio of 13.82, a P/E/G ratio of 1.26 and a beta of 1.03. The company has a current ratio of 0.95, a quick ratio of 0.50 and a debt-to-equity ratio of 1.61.

AmerisourceBergen (NYSE:ABC) last announced its earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.20. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The company had revenue of $40.47 billion during the quarter, compared to the consensus estimate of $40.42 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. equities analysts predict that AmerisourceBergen will post 6.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 5th. Shareholders of record on Tuesday, February 20th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, February 16th. AmerisourceBergen’s dividend payout ratio is presently 32.76%.

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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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