Providence Capital Advisors LLC decreased its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 6.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,150 shares of the company’s stock after selling 350 shares during the quarter. Providence Capital Advisors LLC’s holdings in AmerisourceBergen were worth $439,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Motco bought a new stake in shares of AmerisourceBergen during the second quarter worth $26,000. Rational Advisors LLC increased its stake in AmerisourceBergen by 1,627.3% in the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock worth $30,000 after buying an additional 358 shares during the period. Citizens Financial Group Inc RI lifted its holdings in AmerisourceBergen by 316.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in AmerisourceBergen by 212.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 718 shares of the company’s stock valued at $62,000 after buying an additional 488 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in AmerisourceBergen by 139.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 777 shares of the company’s stock valued at $66,000 after buying an additional 452 shares during the period. 66.10% of the stock is currently owned by hedge funds and other institutional investors.

In other AmerisourceBergen news, insider John G. Chou sold 13,997 shares of AmerisourceBergen stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.58, for a total value of $1,253,851.26. Following the transaction, the insider now owns 65,782 shares in the company, valued at $5,892,751.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven H. Collis sold 19,905 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.89, for a total transaction of $1,729,545.45. Following the completion of the transaction, the chief executive officer now owns 154,484 shares of the company’s stock, valued at $13,423,114.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,215 shares of company stock valued at $16,240,235. 27.80% of the stock is owned by company insiders.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Wednesday, June 12th. Argus lowered their price target on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, June 3rd. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley reduced their price objective on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.86.

NYSE ABC traded up $1.91 during trading on Wednesday, reaching $87.79. 83,606 shares of the company’s stock traded hands, compared to its average volume of 1,134,135. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. The firm has a market cap of $18.29 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00. The company’s 50 day simple moving average is $86.16 and its two-hundred day simple moving average is $81.99. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $94.85.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.14. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The firm had revenue of $45.24 billion during the quarter, compared to analysts’ expectations of $45.15 billion. During the same quarter in the prior year, the company earned $1.54 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Research analysts expect that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Friday, August 16th. AmerisourceBergen’s dividend payout ratio (DPR) is 24.65%.

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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