AmerisourceBergen Corp. (ABC) Shares Sold by ProVise Management Group LLC

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ProVise Management Group LLC lessened its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,563 shares of the company’s stock after selling 832 shares during the quarter. ProVise Management Group LLC’s holdings in AmerisourceBergen were worth $4,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABC. Capital Wealth Planning LLC grew its position in AmerisourceBergen by 412.1% in the second quarter. Capital Wealth Planning LLC now owns 12,577 shares of the company’s stock worth $1,072,000 after buying an additional 10,121 shares during the last quarter. Sio Capital Management LLC acquired a new position in AmerisourceBergen in the second quarter worth approximately $1,180,000. Intrepid Capital Management Inc. grew its position in AmerisourceBergen by 7.1% in the second quarter. Intrepid Capital Management Inc. now owns 157,485 shares of the company’s stock worth $13,429,000 after buying an additional 10,495 shares during the last quarter. Toronto Dominion Bank grew its position in AmerisourceBergen by 14.8% in the second quarter. Toronto Dominion Bank now owns 132,971 shares of the company’s stock worth $11,337,000 after buying an additional 17,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in AmerisourceBergen by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 849,688 shares of the company’s stock worth $72,459,000 after buying an additional 23,216 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Robert W. Baird cut shares of AmerisourceBergen from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Finally, Mizuho reiterated a “neutral” rating on shares of AmerisourceBergen in a research report on Wednesday, September 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $101.80.

In other AmerisourceBergen news, EVP John G. Chou sold 6,974 shares of AmerisourceBergen stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $83.94, for a total transaction of $585,397.56. Following the completion of the sale, the executive vice president now owns 56,126 shares of the company’s stock, valued at approximately $4,711,216.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $88.33, for a total transaction of $1,885,845.50. Following the sale, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at approximately $25,432,415.25. The disclosure for this sale can be found here. Insiders have sold a total of 92,928 shares of company stock valued at $8,332,406 in the last three months. Company insiders own 27.30% of the company’s stock.

NYSE ABC traded up $2.36 on Wednesday, hitting $86.36. 228,246 shares of the stock were exchanged, compared to its average volume of 1,334,898. AmerisourceBergen Corp. has a 52-week low of $73.35 and a 52-week 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. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.26 and a beta of 0.97.

AmerisourceBergen (NYSE:ABC) last issued its earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. The company had revenue of $43.30 billion during the quarter, compared to analyst estimates of $43.27 billion. AmerisourceBergen had a net margin of 0.69% and a return on equity of 48.65%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. On average, research analysts forecast that AmerisourceBergen Corp. will post 6.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.85%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.38. AmerisourceBergen’s dividend payout ratio (DPR) is 25.85%.

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AmerisourceBergen 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.

Further Reading: What is a stock split?

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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