Accident Compensation Corp trimmed its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,039 shares of the company’s stock after selling 2,400 shares during the quarter. Accident Compensation Corp’s holdings in AmerisourceBergen were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in AmerisourceBergen by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after purchasing an additional 34 shares during the period. Savant Capital LLC raised its holdings in AmerisourceBergen by 0.8% in the second quarter. Savant Capital LLC now owns 4,846 shares of the company’s stock worth $458,000 after purchasing an additional 40 shares during the period. Stephens Inc. AR raised its holdings in AmerisourceBergen by 1.5% in the second quarter. Stephens Inc. AR now owns 5,141 shares of the company’s stock worth $486,000 after purchasing an additional 77 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of AmerisourceBergen by 0.7% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,329 shares of the company’s stock worth $1,165,000 after acquiring an additional 80 shares in the last quarter. Finally, Pzena Investment Management LLC increased its position in shares of AmerisourceBergen by 4.0% during the second quarter. Pzena Investment Management LLC now owns 2,602 shares of the company’s stock worth $246,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 67.83% of the company’s stock.
In other AmerisourceBergen news, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $82.78, for a total transaction of $960,248.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 21,350 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the transaction, the chairman now owns 260,226 shares in the company, valued at approximately $20,021,788.44. The disclosure for this sale can be found here. Insiders sold a total of 176,364 shares of company stock worth $14,429,980 in the last 90 days. Corporate insiders own 27.40% of the company’s stock.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.01. The company had revenue of $39.12 billion for the quarter, compared to analyst estimates of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. sell-side analysts forecast that AmerisourceBergen Corp. will post 6.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s payout ratio is 82.16%.
Several equities research analysts have recently issued reports on the stock. Cowen raised shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 10th. Jefferies Group set a $85.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a research report on Sunday, October 29th. Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Goldman Sachs Group raised shares of AmerisourceBergen from a “neutral” rating to a “buy” rating in a research report on Friday, December 15th. Finally, Robert W. Baird set a $99.00 price objective on shares of AmerisourceBergen and gave the company a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $93.20.
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AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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