Nissay Asset Management Corp Japan ADV lowered its holdings in shares of AmerisourceBergen Co. (NYSE:ABC) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,933 shares of the company’s stock after selling 351 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in AmerisourceBergen were worth $1,881,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ABC. Ironwood Wealth Management LLC. purchased a new stake in shares of AmerisourceBergen during the fourth quarter worth about $980,000. NN Investment Partners Holdings N.V. grew its position in shares of AmerisourceBergen by 12.3% during the fourth quarter. NN Investment Partners Holdings N.V. now owns 16,037 shares of the company’s stock worth $1,567,000 after purchasing an additional 1,762 shares in the last quarter. California Public Employees Retirement System grew its position in shares of AmerisourceBergen by 5.7% during the fourth quarter. California Public Employees Retirement System now owns 367,161 shares of the company’s stock worth $35,894,000 after purchasing an additional 19,731 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of AmerisourceBergen by 0.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 55,898 shares of the company’s stock worth $5,465,000 after purchasing an additional 190 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of AmerisourceBergen by 3.7% during the fourth quarter. CIBC Asset Management Inc now owns 30,001 shares of the company’s stock worth $2,933,000 after purchasing an additional 1,063 shares in the last quarter. Hedge funds and other institutional investors own 64.00% of the company’s stock.
In related news, EVP Gina Clark sold 9,013 shares of the firm’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $117.94, for a total transaction of $1,062,993.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven H. Collis sold 33,697 shares of the firm’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $112.71, for a total value of $3,797,988.87. Following the sale, the chief executive officer now directly owns 216,724 shares of the company’s stock, valued at $24,426,962.04. The disclosure for this sale can be found here. Insiders sold a total of 122,269 shares of company stock valued at $14,221,290 over the last ninety days. Corporate insiders own 28.40% of the company’s stock.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Tuesday, May 4th. The company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.05. The business had revenue of $49.15 billion during the quarter, compared to analyst estimates of $50.06 billion. AmerisourceBergen had a positive return on equity of 277.60% and a negative net margin of 1.91%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the company earned $2.40 EPS. Research analysts anticipate that AmerisourceBergen Co. will post 9.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Monday, May 17th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, May 14th. AmerisourceBergen’s payout ratio is 22.28%.
Separately, Barclays raised their price target on AmerisourceBergen from $122.00 to $130.00 and gave the company an “equal weight” rating in a report on Thursday, May 6th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $122.50.
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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