AmerisourceBergen Corp. (ABC) Stake Decreased by Guggenheim Capital LLC
Guggenheim Capital LLC reduced its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 649,931 shares of the company’s stock after selling 23,311 shares during the quarter. Guggenheim Capital LLC’s holdings in AmerisourceBergen were worth $59,679,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Virtue Capital Management LLC bought a new stake in shares of AmerisourceBergen in the 4th quarter worth approximately $538,000. Vulcan Value Partners LLC grew its position in shares of AmerisourceBergen by 29.4% in the 4th quarter. Vulcan Value Partners LLC now owns 7,530,523 shares of the company’s stock worth $691,452,000 after buying an additional 1,710,816 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of AmerisourceBergen in the 4th quarter worth approximately $13,251,000. Jefferies Group LLC bought a new stake in shares of AmerisourceBergen in the 4th quarter worth approximately $541,000. Finally, Evanston Investments Inc. dba Evanston Advisors grew its position in shares of AmerisourceBergen by 3.5% in the 4th quarter. Evanston Investments Inc. dba Evanston Advisors now owns 93,868 shares of the company’s stock worth $8,619,000 after buying an additional 3,142 shares during the last quarter. Hedge funds and other institutional investors own 67.33% of the company’s stock.
Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at $100.60 on Wednesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.50 and a current ratio of 0.95. AmerisourceBergen Corp. has a 1 year low of $71.90 and a 1 year high of $106.27. The firm has a market capitalization of $22,030.61, a P/E ratio of 16.50, a P/E/G ratio of 1.50 and a beta of 1.03.
The business also recently announced a quarterly dividend, which was paid on Monday, March 5th. Shareholders of record on Tuesday, February 20th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Friday, February 16th. AmerisourceBergen’s dividend payout ratio (DPR) is 32.76%.
In other AmerisourceBergen news, insider Peyton R. Howell sold 17,800 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $89.70, for a total value of $1,596,660.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peyton R. Howell sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $93.78, for a total value of $281,340.00. Following the completion of the sale, the insider now directly owns 49,189 shares in the company, valued at $4,612,944.42. The disclosure for this sale can be found here. Insiders sold 177,609 shares of company stock worth $16,855,249 over the last three months. Corporate insiders own 27.30% of the company’s stock.
A number of equities research analysts have recently weighed in on ABC shares. Needham & Company LLC lifted their price objective on AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Robert W. Baird set a $99.00 price objective on AmerisourceBergen and gave the stock a “buy” rating in a research report on Friday, December 1st. Deutsche Bank assumed coverage on AmerisourceBergen in a research report on Monday, December 4th. They issued a “buy” rating and a $97.00 price objective on the stock. Cowen set a $107.00 price target on AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, Goldman Sachs Group upgraded AmerisourceBergen from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $103.34.
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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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