AmerisourceBergen Corp. (ABC) Shares Sold by Sei Investments Co.
Sei Investments Co. reduced its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 4.7% during the 4th quarter, Holdings Channel reports. The firm owned 114,747 shares of the company’s stock after selling 5,680 shares during the quarter. Sei Investments Co.’s holdings in AmerisourceBergen were worth $10,537,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABC. JPMorgan Chase & Co. grew its stake in shares of AmerisourceBergen by 107.3% during the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after purchasing an additional 2,776,287 shares during the last quarter. Harding Loevner LP grew its stake in shares of AmerisourceBergen by 89.6% during the third quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock valued at $134,939,000 after purchasing an additional 1,496,761 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of AmerisourceBergen during the third quarter valued at approximately $75,681,000. Beutel Goodman & Co Ltd. grew its stake in shares of AmerisourceBergen by 23.3% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,374,727 shares of the company’s stock valued at $174,194,000 after purchasing an additional 449,330 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of AmerisourceBergen by 11.4% during the third quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock valued at $308,358,000 after purchasing an additional 381,936 shares during the last quarter. 65.98% of the stock is currently owned by institutional investors and hedge funds.
AmerisourceBergen Corp. (NYSE ABC) opened at $98.42 on Friday. AmerisourceBergen Corp. has a twelve month low of $71.90 and a twelve month high of $106.27. The firm has a market cap of $21,619.82, a P/E ratio of 16.19, a P/E/G ratio of 1.57 and a beta of 1.02. The company has a quick ratio of 0.50, a current ratio of 0.95 and a debt-to-equity ratio of 1.61.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 5th. Shareholders of record on Tuesday, February 20th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.52 annualized dividend and a yield of 1.54%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 32.76%.
Several analysts have recently commented on ABC shares. Robert W. Baird reissued a “buy” rating and set a $96.00 price target on shares of AmerisourceBergen in a research note on Monday, November 6th. Needham & Company LLC decreased their price target on shares of AmerisourceBergen from $93.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. Zacks Investment Research cut shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Jefferies Group set a $85.00 price target on shares of AmerisourceBergen and gave the company a “hold” rating in a research note on Sunday, October 29th. Finally, Goldman Sachs Group upgraded shares of AmerisourceBergen from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $101.17.
In other AmerisourceBergen news, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $85.73, for a total value of $994,468.00. Following the sale, the chief financial officer now directly owns 56,436 shares in the company, valued at $4,838,258.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Dale Danilewitz sold 21,500 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $97.30, for a total transaction of $2,091,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,396 shares of company stock worth $20,261,915. Company insiders own 27.30% of the company’s stock.
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AmerisourceBergen Company Profile
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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