JustInvest LLC Sells 794 Shares of AmerisourceBergen Co. (NYSE:ABC)

JustInvest LLC decreased its holdings in shares of AmerisourceBergen Co. (NYSE:ABC) by 21.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,957 shares of the company’s stock after selling 794 shares during the period. JustInvest LLC’s holdings in AmerisourceBergen were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fort Washington Investment Advisors Inc. OH lifted its stake in AmerisourceBergen by 43.2% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,049,352 shares of the company’s stock worth $125,345,000 after purchasing an additional 316,377 shares during the period. Buckley Wealth Management LLC increased its holdings in shares of AmerisourceBergen by 3.2% during the third quarter. Buckley Wealth Management LLC now owns 7,655 shares of the company’s stock worth $914,000 after buying an additional 240 shares in the last quarter. Ieq Capital LLC increased its holdings in shares of AmerisourceBergen by 67.2% during the third quarter. Ieq Capital LLC now owns 4,659 shares of the company’s stock worth $557,000 after buying an additional 1,873 shares in the last quarter. Checchi Capital Advisers LLC acquired a new stake in shares of AmerisourceBergen during the third quarter worth approximately $205,000. Finally, Grace Capital increased its holdings in shares of AmerisourceBergen by 5.9% during the third quarter. Grace Capital now owns 7,200 shares of the company’s stock worth $883,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 62.99% of the company’s stock.

Several research firms have recently weighed in on ABC. Morgan Stanley raised their price objective on shares of AmerisourceBergen from $141.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, December 17th. TheStreet raised shares of AmerisourceBergen from a “d” rating to an “a-” rating in a report on Thursday, November 4th. Credit Suisse Group raised their price objective on shares of AmerisourceBergen from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, November 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AmerisourceBergen from $136.00 to $153.00 and gave the stock a “hold” rating in a report on Friday, November 12th. Finally, Barclays raised their price target on shares of AmerisourceBergen from $135.00 to $152.00 and gave the company an “equal weight” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, AmerisourceBergen has a consensus rating of “Buy” and an average target price of $144.75.

In other news, CEO Steven H. Collis sold 17,168 shares of AmerisourceBergen stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $123.66, for a total transaction of $2,122,994.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Steven H. Collis sold 24,264 shares of AmerisourceBergen stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $125.33, for a total transaction of $3,041,007.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,865 shares of company stock worth $20,109,602. Insiders own 28.40% of the company’s stock.

Shares of AmerisourceBergen stock opened at $136.20 on Friday. The company has a debt-to-equity ratio of 10.92, a current ratio of 0.94 and a quick ratio of 0.57. The firm has a market cap of $28.35 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.58 and a beta of 0.51. The firm has a 50 day simple moving average of $125.93 and a 200 day simple moving average of $122.23. AmerisourceBergen Co. has a fifty-two week low of $100.71 and a fifty-two week high of $136.95.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, November 4th. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.03. AmerisourceBergen had a net margin of 0.72% and a return on equity of 2,040.08%. The firm had revenue of $58.90 billion for the quarter, compared to analysts’ expectations of $57.05 billion. During the same period last year, the firm earned $1.89 earnings per share. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, sell-side analysts expect that AmerisourceBergen Co. will post 10.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 29th. Shareholders of record on Monday, November 15th were paid a $0.46 dividend. The ex-dividend date was Friday, November 12th. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 1.35%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 24.90%.

AmerisourceBergen Company Profile

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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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