Alpha Paradigm Partners LLC acquired a new position in shares of AmerisourceBergen Co. (NYSE:ABC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,897 shares of the company’s stock, valued at approximately $332,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IFM Investors Pty Ltd increased its stake in AmerisourceBergen by 30.5% during the second quarter. IFM Investors Pty Ltd now owns 20,806 shares of the company’s stock worth $2,382,000 after acquiring an additional 4,857 shares during the last quarter. Blair William & Co. IL grew its stake in shares of AmerisourceBergen by 67.8% during the first quarter. Blair William & Co. IL now owns 9,492 shares of the company’s stock valued at $1,121,000 after buying an additional 3,834 shares during the last quarter. AlphaCrest Capital Management LLC grew its stake in shares of AmerisourceBergen by 571.4% during the second quarter. AlphaCrest Capital Management LLC now owns 55,062 shares of the company’s stock valued at $6,304,000 after buying an additional 46,861 shares during the last quarter. CWM Advisors LLC grew its stake in shares of AmerisourceBergen by 9.1% during the second quarter. CWM Advisors LLC now owns 17,830 shares of the company’s stock valued at $2,041,000 after buying an additional 1,486 shares during the last quarter. Finally, Argent Trust Co grew its stake in shares of AmerisourceBergen by 4.2% during the second quarter. Argent Trust Co now owns 33,301 shares of the company’s stock valued at $3,812,000 after buying an additional 1,354 shares during the last quarter. 63.63% of the stock is currently owned by institutional investors.
In other news, CEO Steven H. Collis sold 12,784 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $117.66, for a total transaction of $1,504,165.44. Following the sale, the chief executive officer now directly owns 199,609 shares in the company, valued at approximately $23,485,994.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John G. Chou sold 6,082 shares of the firm’s stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $112.09, for a total value of $681,731.38. Following the sale, the executive vice president now owns 73,183 shares in the company, valued at $8,203,082.47. The disclosure for this sale can be found here. Insiders have sold a total of 66,651 shares of company stock worth $7,969,526 over the last ninety days. 28.40% of the stock is owned by insiders.
AmerisourceBergen (NYSE:ABC) last released its earnings results on Tuesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.12. AmerisourceBergen had a negative return on equity of 694.83% and a negative net margin of 1.83%. The firm had revenue of $53.41 billion for the quarter, compared to the consensus estimate of $52.62 billion. During the same period in the prior year, the firm earned $1.85 EPS. The firm’s revenue was up 17.7% on a year-over-year basis. Research analysts expect that AmerisourceBergen Co. will post 9.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Monday, August 16th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, August 13th. AmerisourceBergen’s dividend payout ratio is currently 22.28%.
ABC has been the topic of a number of analyst reports. Robert W. Baird upped their target price on AmerisourceBergen from $156.00 to $162.00 and gave the company an “outperform” rating in a research note on Thursday, August 5th. They noted that the move was a valuation call. Credit Suisse Group upped their target price on AmerisourceBergen from $132.00 to $144.00 and gave the company an “outperform” rating in a research note on Thursday, August 5th. Finally, Morgan Stanley upped their target price on AmerisourceBergen from $138.00 to $141.00 and gave the company an “overweight” rating in a research note on Tuesday, August 31st. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AmerisourceBergen presently has an average rating of “Buy” and a consensus price target of $134.11.
AmerisourceBergen Corp. engages provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name; specialty brand-name and generic pharmaceuticals; over-the-counter healthcare products; home healthcare supplies and equipment; and related services to healthcare providers, including acute care hospitals and health systems; independent and chain retail pharmacies; mail order pharmacies; medical clinics; and long-term care and alternate site pharmacies.
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