SG Americas Securities LLC Trims Position in AmerisourceBergen Corp. (ABC)
SG Americas Securities LLC cut its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 74.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,843 shares of the company’s stock after selling 8,296 shares during the quarter. SG Americas Securities LLC’s holdings in AmerisourceBergen were worth $235,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in AmerisourceBergen by 660.8% during the second quarter. Janus Henderson Group PLC now owns 2,574,746 shares of the company’s stock worth $243,392,000 after buying an additional 2,236,319 shares in the last quarter. Wells Fargo & Company MN increased its position in AmerisourceBergen by 42.9% during the second quarter. Wells Fargo & Company MN now owns 3,344,441 shares of the company’s stock worth $316,149,000 after buying an additional 1,003,327 shares in the last quarter. Franklin Resources Inc. increased its position in AmerisourceBergen by 23.1% during the second quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock worth $368,884,000 after buying an additional 731,466 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in AmerisourceBergen by 123.4% during the second quarter. Parametric Portfolio Associates LLC now owns 1,157,612 shares of the company’s stock worth $109,429,000 after buying an additional 639,515 shares in the last quarter. Finally, FMR LLC increased its position in AmerisourceBergen by 68.9% during the second quarter. FMR LLC now owns 1,094,072 shares of the company’s stock worth $103,422,000 after buying an additional 446,308 shares in the last quarter. 67.83% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on ABC. Cowen set a $107.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Goldman Sachs Group raised AmerisourceBergen from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. Jefferies Group set a $85.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a research report on Sunday, October 29th. Needham & Company LLC raised their price target on AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Finally, Robert W. Baird set a $99.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. AmerisourceBergen currently has an average rating of “Buy” and a consensus price target of $93.20.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. The business had revenue of $39.12 billion during the quarter, compared to the consensus estimate of $40.10 billion. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. analysts expect that AmerisourceBergen Corp. will post 6.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were given a $0.38 dividend. The ex-dividend date was Friday, November 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s payout ratio is currently 82.16%.
In other news, insider Dale Danilewitz sold 1,857 shares of AmerisourceBergen stock in a transaction on Monday, November 13th. The stock was sold at an average price of $74.69, for a total value of $138,699.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peyton R. Howell sold 17,800 shares of AmerisourceBergen stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $89.70, for a total value of $1,596,660.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,607 shares of company stock valued at $14,690,166. Company insiders own 27.40% of the company’s stock.
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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