Hunter Associates Investment Management LLC Trims Holdings in AmerisourceBergen Corp. (ABC)

Hunter Associates Investment Management LLC lessened its position in AmerisourceBergen Corp. (NYSE:ABC) by 27.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,605 shares of the company’s stock after selling 1,000 shares during the period. Hunter Associates Investment Management LLC’s holdings in AmerisourceBergen were worth $222,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. River Wealth Advisors LLC boosted its position in shares of AmerisourceBergen by 1.6% during the first quarter. River Wealth Advisors LLC now owns 34,764 shares of the company’s stock valued at $2,997,000 after buying an additional 561 shares during the last quarter. State Treasurer State of Michigan boosted its position in shares of AmerisourceBergen by 1.3% during the first quarter. State Treasurer State of Michigan now owns 47,884 shares of the company’s stock valued at $4,128,000 after buying an additional 600 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of AmerisourceBergen by 54.8% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,698 shares of the company’s stock valued at $146,000 after buying an additional 601 shares during the last quarter. Parsons Capital Management Inc. RI boosted its position in shares of AmerisourceBergen by 5.7% during the second quarter. Parsons Capital Management Inc. RI now owns 11,609 shares of the company’s stock valued at $990,000 after buying an additional 621 shares during the last quarter. Finally, Donald L. Hagan LLC boosted its position in shares of AmerisourceBergen by 3.9% during the second quarter. Donald L. Hagan LLC now owns 16,681 shares of the company’s stock valued at $1,422,000 after buying an additional 622 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

ABC has been the topic of several analyst reports. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Mizuho reaffirmed a “hold” rating and set a $90.00 target price on shares of AmerisourceBergen in a research report on Sunday, August 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $94.00 target price on shares of AmerisourceBergen in a research report on Friday, July 20th. Finally, Morgan Stanley cut their target price on AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. AmerisourceBergen currently has an average rating of “Hold” and an average price target of $101.80.

In related news, EVP Dale Danilewitz sold 3,121 shares of AmerisourceBergen stock in a transaction on Friday, June 1st. The stock was sold at an average price of $82.50, for a total transaction of $257,482.50. Following the sale, the executive vice president now directly owns 3,121 shares in the company, valued at $257,482.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathy H. Gaddes sold 2,652 shares of AmerisourceBergen stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $92.03, for a total value of $244,063.56. Following the sale, the insider now owns 3,891 shares in the company, valued at $358,088.73. The disclosure for this sale can be found here. Insiders have sold 112,308 shares of company stock worth $9,364,723 over the last quarter. 27.30% of the stock is currently owned by corporate insiders.

Shares of AmerisourceBergen stock opened at $88.92 on Monday. The firm has a market cap of $19.11 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.38 and a beta of 1.00. AmerisourceBergen Corp. has a 12 month low of $71.90 and a 12 month high of $106.27. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.51 and a current ratio of 0.94.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $1.54 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.08. The business had revenue of $43.14 billion for the quarter, compared to analyst estimates of $43.05 billion. AmerisourceBergen had a return on equity of 48.65% and a net margin of 0.69%. AmerisourceBergen’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $1.43 earnings per share. research analysts anticipate that AmerisourceBergen Corp. will post 6.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Monday, August 20th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, August 17th. This represents a $1.52 dividend on an annualized basis and a yield of 1.71%. AmerisourceBergen’s dividend payout ratio (DPR) is currently 25.85%.

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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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