Prospera Financial Services Inc decreased its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 42.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,169 shares of the company’s stock after selling 2,304 shares during the quarter. Prospera Financial Services Inc’s holdings in AmerisourceBergen were worth $236,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of AmerisourceBergen by 1.1% during the second quarter. BlackRock Inc. now owns 12,325,863 shares of the company’s stock valued at $1,050,903,000 after purchasing an additional 136,458 shares during the last quarter. Northern Trust Corp boosted its position in AmerisourceBergen by 3.3% during the 2nd quarter. Northern Trust Corp now owns 2,514,818 shares of the company’s stock valued at $214,414,000 after purchasing an additional 81,207 shares during the period. Wells Fargo & Company MN boosted its position in AmerisourceBergen by 5.1% during the 1st quarter. Wells Fargo & Company MN now owns 2,324,484 shares of the company’s stock valued at $184,843,000 after purchasing an additional 113,847 shares during the period. Ceredex Value Advisors LLC boosted its position in AmerisourceBergen by 23.9% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock valued at $169,787,000 after purchasing an additional 411,607 shares during the period. Finally, Geode Capital Management LLC boosted its position in AmerisourceBergen by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 1,954,861 shares of the company’s stock valued at $145,173,000 after purchasing an additional 114,505 shares during the period. 65.95% of the stock is currently owned by institutional investors.
ABC has been the subject of a number of analyst reports. ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Wednesday, June 12th. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. Deutsche Bank assumed coverage on AmerisourceBergen in a research report on Thursday, September 12th. They set a “hold” rating and a $91.00 price objective for the company. Finally, Argus reduced their price target on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. AmerisourceBergen has an average rating of “Hold” and a consensus price target of $87.38.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts expect that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, August 16th. AmerisourceBergen’s dividend payout ratio is presently 24.65%.
In other news, CEO Steven H. Collis sold 19,905 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.58, for a total transaction of $1,783,089.90. Following the sale, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at $13,838,676.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John G. Chou sold 13,997 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $86.29, for a total value of $1,207,801.13. Following the sale, the executive vice president now directly owns 65,782 shares in the company, valued at $5,676,328.78. The disclosure for this sale can be found here. Insiders sold a total of 78,389 shares of company stock worth $6,947,790 in the last three months. Company insiders own 27.80% of the company’s stock.
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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