LSV Asset Management Reduces Stock Position in AmerisourceBergen Corp. (NYSE:ABC)

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LSV Asset Management lessened its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,827 shares of the company’s stock after selling 1,300 shares during the quarter. LSV Asset Management’s holdings in AmerisourceBergen were worth $3,054,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in shares of AmerisourceBergen by 4.9% in the first quarter. Victory Capital Management Inc. now owns 2,523,629 shares of the company’s stock worth $200,679,000 after buying an additional 116,808 shares during the last quarter. Northern Trust Corp boosted its stake in shares of AmerisourceBergen by 14.4% in the first quarter. Northern Trust Corp now owns 2,433,611 shares of the company’s stock worth $193,521,000 after buying an additional 306,161 shares during the last quarter. Boston Partners boosted its stake in shares of AmerisourceBergen by 222.4% in the first quarter. Boston Partners now owns 2,343,027 shares of the company’s stock worth $186,317,000 after buying an additional 1,616,201 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of AmerisourceBergen by 5.1% in the first quarter. Wells Fargo & Company MN now owns 2,324,484 shares of the company’s stock worth $184,843,000 after buying an additional 113,847 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in shares of AmerisourceBergen by 23.9% in the first quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock worth $169,787,000 after buying an additional 411,607 shares during the last quarter. Institutional investors and hedge funds own 66.09% of the company’s stock.

In other AmerisourceBergen news, Director Richard W. Gochnauer sold 8,256 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $84.95, for a total transaction of $701,347.20. Following the completion of the transaction, the director now owns 20,620 shares of the company’s stock, valued at $1,751,669. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Chou sold 13,997 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.58, for a total value of $1,253,851.26. Following the transaction, the insider now directly owns 65,782 shares of the company’s stock, valued at approximately $5,892,751.56. The disclosure for this sale can be found here. Insiders have sold 160,569 shares of company stock worth $14,004,235 in the last quarter. 27.80% of the stock is currently owned by company insiders.

A number of analysts have recently commented on ABC shares. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Argus lowered their target price on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock 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, Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. AmerisourceBergen presently has an average rating of “Hold” and an average target price of $88.00.

ABC stock traded up $1.20 during mid-day trading on Wednesday, reaching $85.24. 10,388 shares of the company’s stock were exchanged, compared to its average volume of 1,341,005. The company has a market cap of $17.29 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. The stock’s 50 day moving average is $86.18 and its 200 day moving average is $82.00. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $94.85.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.14. The company had revenue of $45.24 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%. AmerisourceBergen’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 earnings per share. On average, research analysts forecast that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.88%. AmerisourceBergen’s dividend payout ratio is currently 24.65%.

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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