Commonwealth Equity Services LLC decreased its position in AmerisourceBergen Corp. (NYSE:ABC) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,430 shares of the company’s stock after selling 1,309 shares during the period. Commonwealth Equity Services LLC’s holdings in AmerisourceBergen were worth $4,466,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ABC. Fort Washington Investment Advisors Inc. OH bought a new stake in AmerisourceBergen in the second quarter valued at $99,092,000. Equity Investment Corp bought a new stake in AmerisourceBergen in the third quarter valued at $69,621,000. Millennium Management LLC boosted its holdings in AmerisourceBergen by 183.5% in the second quarter. Millennium Management LLC now owns 1,145,365 shares of the company’s stock valued at $97,665,000 after acquiring an additional 741,391 shares in the last quarter. Mainstay Capital Management LLC ADV boosted its holdings in AmerisourceBergen by 6,233.3% in the second quarter. Mainstay Capital Management LLC ADV now owns 609,010 shares of the company’s stock valued at $7,469,000 after acquiring an additional 599,394 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in AmerisourceBergen by 4.6% in the second quarter. BlackRock Inc. now owns 12,776,453 shares of the company’s stock valued at $1,089,447,000 after acquiring an additional 557,312 shares in the last quarter. Hedge funds and other institutional investors own 64.73% of the company’s stock.

Shares of AmerisourceBergen stock opened at $88.87 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.93 and a debt-to-equity ratio of 1.36. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.32 and a beta of 0.97. AmerisourceBergen Corp. has a 12 month low of $77.28 and a 12 month high of $106.27.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.44 by $0.01. The business had revenue of $43.30 billion during the quarter, compared to analyst estimates of $43.27 billion. AmerisourceBergen had a return on equity of 45.54% and a net margin of 0.99%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 earnings per share. Sell-side analysts anticipate that AmerisourceBergen Corp. will post 6.81 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $1.60 annualized dividend and a yield of 1.80%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.38. AmerisourceBergen’s dividend payout ratio (DPR) is currently 24.65%.

Several research firms recently weighed in on ABC. ValuEngine upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Mizuho reiterated a “neutral” rating on shares of AmerisourceBergen in a report on Wednesday, September 19th. Robert W. Baird reiterated a “hold” rating and issued a $89.00 price target on shares of AmerisourceBergen in a report on Friday, August 3rd. Finally, Royal Bank of Canada set a $90.00 price target on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, November 7th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. AmerisourceBergen has a consensus rating of “Buy” and an average price target of $101.07.

In other news, CEO Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $88.33, for a total value of $1,885,845.50. Following the completion of the transaction, the chief executive officer now owns 287,925 shares of the company’s stock, valued at approximately $25,432,415.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John G. Chou sold 6,974 shares of AmerisourceBergen stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $86.19, for a total value of $601,089.06. Following the completion of the transaction, the insider now directly owns 56,125 shares of the company’s stock, valued at approximately $4,837,413.75. The disclosure for this sale can be found here. Insiders have sold 90,276 shares of company stock valued at $8,131,670 in the last three months. Insiders own 27.30% of the company’s stock.

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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.

Further Reading: Candlestick

Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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