AmerisourceBergen Corporation (Holding Co) (ABC) Shares Sold by Private Advisor Group LLC
Private Advisor Group LLC trimmed its position in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,741 shares of the company’s stock after selling 2,236 shares during the quarter. Private Advisor Group LLC’s holdings in AmerisourceBergen were worth $1,941,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the business. Parallel Advisors LLC lifted its position in shares of AmerisourceBergen by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after purchasing an additional 34 shares in the last quarter. Sun Life Financial INC lifted its position in shares of AmerisourceBergen by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after purchasing an additional 1,200 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of AmerisourceBergen by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after purchasing an additional 375 shares in the last quarter. Intl Fcstone Inc. acquired a new position in shares of AmerisourceBergen during the second quarter worth approximately $201,000. Finally, Pinnacle Associates Ltd. acquired a new position in shares of AmerisourceBergen during the second quarter worth approximately $203,000. 67.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AmerisourceBergen Corporation (NYSE ABC) opened at $85.99 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.83. The firm has a market cap of $18,731.06, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.00. AmerisourceBergen Corporation has a twelve month low of $71.90 and a twelve month high of $97.85.
The company also recently announced a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Monday, November 20th were issued a $0.38 dividend. The ex-dividend date was Friday, November 17th. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.77%. AmerisourceBergen’s dividend payout ratio (DPR) is 82.16%.
In other AmerisourceBergen news, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $85.73, for a total value of $994,468.00. Following the sale, the chief financial officer now directly owns 56,436 shares in the company, valued at $4,838,258.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the completion of the sale, the chairman now owns 260,226 shares in the company, valued at $20,021,788.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,407 shares of company stock worth $13,310,758. Company insiders own 27.40% of the company’s stock.
ABC has been the topic of a number of research reports. Jefferies Group set a $95.00 target price on shares of AmerisourceBergen and gave the stock a “hold” rating in a research report on Tuesday, August 29th. ValuEngine lowered shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Needham & Company LLC restated a “buy” rating and issued a $91.00 price objective on shares of AmerisourceBergen in a report on Sunday, September 10th. Morgan Stanley lowered shares of AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Finally, Royal Bank Of Canada initiated coverage on shares of AmerisourceBergen in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $87.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $91.95.
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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