Palladium Partners LLC Cuts Stock Position in AmerisourceBergen Corp. (NYSE:ABC)
Palladium Partners LLC cut its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 2.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 12,075 shares of the company’s stock after selling 285 shares during the period. Palladium Partners LLC’s holdings in AmerisourceBergen were worth $1,027,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. NEXT Financial Group Inc boosted its holdings in AmerisourceBergen by 95.4% in the 4th quarter. NEXT Financial Group Inc now owns 299 shares of the company’s stock worth $25,000 after buying an additional 146 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of AmerisourceBergen during the third quarter worth approximately $27,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of AmerisourceBergen by 392.9% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Private Ocean LLC acquired a new position in AmerisourceBergen in the 4th quarter valued at $32,000. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in AmerisourceBergen by 60.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 432 shares of the company’s stock valued at $37,000 after purchasing an additional 162 shares during the last quarter. Institutional investors own 66.80% of the company’s stock.
In other news, EVP Gina Clark sold 10,917 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $88.24, for a total transaction of $963,316.08. Also, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $84.42, for a total transaction of $1,680,380.10. Following the sale, the chief executive officer now owns 162,027 shares of the company’s stock, valued at approximately $13,678,319.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,417 shares of company stock valued at $5,743,456. 28.30% of the stock is owned by company insiders.
Shares of ABC stock traded down $0.19 during trading hours on Friday, reaching $94.33. The company had a trading volume of 92,320 shares, compared to its average volume of 1,316,127. AmerisourceBergen Corp. has a 12-month low of $70.55 and a 12-month high of $97.50. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.56 and a current ratio of 0.95. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 1.64 and a beta of 1.01. The stock has a fifty day moving average of $88.42 and a 200-day moving average of $86.41.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.09. The firm had revenue of $47.86 billion for the quarter, compared to the consensus estimate of $47.84 billion. AmerisourceBergen had a return on equity of 49.95% and a net margin of 0.36%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. On average, analysts forecast that AmerisourceBergen Corp. will post 7.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 14th will be given a dividend of $0.42 per share. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, February 13th. AmerisourceBergen’s dividend payout ratio (DPR) is presently 22.57%.
AmerisourceBergen Company Profile
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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