AmerisourceBergen Corp. (ABC) Shares Sold by Clearbridge Investments LLC
Clearbridge Investments LLC reduced its position in AmerisourceBergen Corp. (NYSE:ABC) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,554,715 shares of the company’s stock after selling 73,943 shares during the quarter. Clearbridge Investments LLC’s holdings in AmerisourceBergen were worth $142,754,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Brandywine Global Investment Management LLC bought a new stake in AmerisourceBergen in the fourth quarter valued at about $13,251,000. Jefferies Group LLC bought a new stake in AmerisourceBergen in the fourth quarter valued at about $541,000. Evanston Investments Inc. dba Evanston Advisors increased its holdings in AmerisourceBergen by 3.5% in the fourth quarter. Evanston Investments Inc. dba Evanston Advisors now owns 93,868 shares of the company’s stock valued at $8,619,000 after buying an additional 3,142 shares during the last quarter. Ironvine Capital Partners LLC bought a new stake in AmerisourceBergen in the fourth quarter valued at about $5,973,000. Finally, Advisor Group Inc. increased its holdings in AmerisourceBergen by 30.9% in the fourth quarter. Advisor Group Inc. now owns 58,837 shares of the company’s stock valued at $5,403,000 after buying an additional 13,886 shares during the last quarter. 66.74% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on ABC shares. Argus boosted their price objective on AmerisourceBergen from $93.96 to $115.00 and gave the company a “buy” rating in a report on Monday, March 5th. Zacks Investment Research lowered AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Goldman Sachs Group raised AmerisourceBergen from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. Bank of America initiated coverage on AmerisourceBergen in a report on Tuesday, February 27th. They set a “buy” rating and a $111.00 target price for the company. Finally, Deutsche Bank initiated coverage on AmerisourceBergen in a report on Monday, December 4th. They set a “buy” rating and a $97.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $103.34.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.20. The business had revenue of $40.47 billion during the quarter, compared to the consensus estimate of $40.42 billion. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. research analysts anticipate that AmerisourceBergen Corp. will post 6.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 5th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.38 per share. The ex-dividend date was Friday, February 16th. This represents a $1.52 annualized dividend and a dividend yield of 1.54%. AmerisourceBergen’s dividend payout ratio is presently 32.76%.
In other news, CFO Tim G. Guttman sold 11,600 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $93.40, for a total transaction of $1,083,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dale Danilewitz sold 3,121 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $92.12, for a total value of $287,506.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,609 shares of company stock valued at $17,031,249. Insiders own 27.30% of the company’s stock.
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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