AmerisourceBergen Corp. (ABC) Stake Lowered by Huntington National Bank
Huntington National Bank reduced its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 12.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,283 shares of the company’s stock after selling 1,075 shares during the quarter. Huntington National Bank’s holdings in AmerisourceBergen were worth $669,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Bray Capital Advisors increased its stake in AmerisourceBergen by 2.5% in the 4th quarter. Bray Capital Advisors now owns 21,890 shares of the company’s stock valued at $2,010,000 after purchasing an additional 525 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in AmerisourceBergen by 3.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 30,862 shares of the company’s stock valued at $2,834,000 after purchasing an additional 1,012 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in AmerisourceBergen in the 4th quarter valued at approximately $746,000. Aperio Group LLC increased its stake in AmerisourceBergen by 11.2% in the 4th quarter. Aperio Group LLC now owns 153,011 shares of the company’s stock valued at $14,049,000 after purchasing an additional 15,381 shares in the last quarter. Finally, North Star Asset Management Inc. purchased a new position in AmerisourceBergen in the 4th quarter valued at approximately $275,000. 67.57% of the stock is owned by institutional investors and hedge funds.
ABC has been the subject of several research analyst reports. Mizuho set a $92.00 price objective on AmerisourceBergen and gave the company a “hold” rating in a research note on Tuesday, October 24th. Zacks Investment Research raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Deutsche Bank initiated coverage on AmerisourceBergen in a research note on Monday, December 4th. They issued a “buy” rating and a $97.00 price objective for the company. Goldman Sachs Group raised AmerisourceBergen from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Leerink Swann set a $105.00 price objective on AmerisourceBergen and gave the company a “buy” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $101.17.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.20. The business had revenue of $40.47 billion during the quarter, compared to the consensus estimate of $40.42 billion. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. sell-side analysts forecast that AmerisourceBergen Corp. will post 6.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Stockholders of record on Tuesday, February 20th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, February 16th. AmerisourceBergen’s dividend payout ratio is currently 32.76%.
In other news, insider Dale Danilewitz sold 1,857 shares of AmerisourceBergen stock in a transaction on Monday, November 13th. The stock was sold at an average price of $74.69, for a total value of $138,699.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peyton R. Howell sold 3,000 shares of AmerisourceBergen stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $91.60, for a total value of $274,800.00. Following the completion of the sale, the insider now directly owns 49,189 shares of the company’s stock, valued at approximately $4,505,712.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,934 shares of company stock valued at $18,427,430. Company insiders own 27.30% of the company’s stock.
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.
Want to see what other hedge funds are holding ABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmerisourceBergen Corp. (NYSE:ABC).
Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.