MV Capital Management Inc. Sells 2,000 Shares of AmerisourceBergen (ABC)

MV Capital Management Inc. trimmed its holdings in shares of AmerisourceBergen (NYSE:ABC) by 19.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,546 shares of the company’s stock after selling 2,000 shares during the period. MV Capital Management Inc.’s holdings in AmerisourceBergen were worth $737,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BB&T Investment Services Inc. lifted its stake in AmerisourceBergen by 11.0% in the 4th quarter. BB&T Investment Services Inc. now owns 13,959 shares of the company’s stock valued at $1,285,000 after purchasing an additional 1,379 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in AmerisourceBergen by 33.3% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 12,813 shares of the company’s stock valued at $1,176,000 after purchasing an additional 3,200 shares during the last quarter. MML Investors Services LLC lifted its stake in AmerisourceBergen by 75.7% in the 4th quarter. MML Investors Services LLC now owns 20,999 shares of the company’s stock valued at $1,928,000 after purchasing an additional 9,045 shares during the last quarter. LVW Advisors LLC lifted its stake in AmerisourceBergen by 3.6% in the 4th quarter. LVW Advisors LLC now owns 30,839 shares of the company’s stock valued at $2,832,000 after purchasing an additional 1,058 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA lifted its stake in AmerisourceBergen by 22.5% in the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 17,471 shares of the company’s stock valued at $1,604,000 after purchasing an additional 3,212 shares during the last quarter. Institutional investors own 66.86% of the company’s stock.

In other news, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $94.25, for a total transaction of $2,012,237.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert P. Mauch sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $97.94, for a total transaction of $97,940.00. The disclosure for this sale can be found here. Insiders have sold 114,092 shares of company stock valued at $10,136,544 over the last 90 days. Company insiders own 27.30% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Mizuho set a $100.00 target price on shares of AmerisourceBergen and gave the company a “hold” rating in a research note on Wednesday, January 24th. Needham & Company LLC raised their target price on shares of AmerisourceBergen from $88.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Bank of America assumed coverage on shares of AmerisourceBergen in a research note on Tuesday, February 27th. They issued a “buy” rating and a $111.00 target price for the company. Zacks Investment Research downgraded shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Cowen reiterated a “buy” rating and issued a $108.00 target price on shares of AmerisourceBergen in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $103.07.

Shares of ABC stock opened at $84.77 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.94 and a quick ratio of 0.48. The company has a market cap of $18.63 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.28 and a beta of 1.04. AmerisourceBergen has a 12-month low of $71.90 and a 12-month high of $106.27.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.13. The firm had revenue of $41.03 billion during the quarter, compared to the consensus estimate of $40.56 billion. AmerisourceBergen had a net margin of 0.57% and a return on equity of 51.04%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $1.77 earnings per share. sell-side analysts anticipate that AmerisourceBergen will post 6.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 4th. Shareholders of record on Monday, May 21st will be given a dividend of $0.38 per share. The ex-dividend date is Friday, May 18th. This represents a $1.52 annualized dividend and a yield of 1.79%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 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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