US Bancorp DE Decreases Position in AmerisourceBergen Corp. (ABC)

US Bancorp DE cut its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 2.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,680 shares of the company’s stock after selling 2,670 shares during the quarter. US Bancorp DE’s holdings in AmerisourceBergen were worth $9,378,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Greatmark Investment Partners Inc. boosted its position in AmerisourceBergen by 26.2% during the third quarter. Greatmark Investment Partners Inc. now owns 9,045 shares of the company’s stock valued at $834,000 after purchasing an additional 1,880 shares during the last quarter. Financial Gravity Wealth Inc. boosted its position in AmerisourceBergen by 93.2% during the third quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock valued at $108,000 after purchasing an additional 605 shares during the last quarter. WBI Investments Inc. acquired a new position in AmerisourceBergen during the third quarter valued at approximately $1,557,000. Checchi Capital Advisers LLC acquired a new position in AmerisourceBergen during the third quarter valued at approximately $213,000. Finally, Assenagon Asset Management S.A. boosted its position in AmerisourceBergen by 121.6% during the third quarter. Assenagon Asset Management S.A. now owns 64,427 shares of the company’s stock valued at $5,941,000 after purchasing an additional 35,354 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

In other news, CEO Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at $25,432,415.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kathy H. Gaddes sold 2,652 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $87.71, for a total value of $232,606.92. Following the completion of the sale, the insider now directly owns 3,891 shares of the company’s stock, valued at $341,279.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,928 shares of company stock valued at $8,332,406. Insiders own 27.30% of the company’s stock.

Several research analysts recently commented on ABC shares. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Royal Bank of Canada set a $90.00 price target on AmerisourceBergen and gave the company a “hold” rating in a research report on Wednesday. Mizuho reissued a “hold” rating and set a $90.00 price target on shares of AmerisourceBergen in a research report on Sunday, August 12th. Robert W. Baird reissued a “neutral” rating and set a $94.00 price target on shares of AmerisourceBergen in a research report on Friday, July 20th. Finally, Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $101.07.

ABC opened at $88.86 on Friday. AmerisourceBergen Corp. has a 12-month low of $74.05 and a 12-month high of $106.27. The company has a market capitalization of $18.72 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.97. The company has a quick ratio of 0.51, a current ratio of 0.93 and a debt-to-equity ratio of 1.36.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.01. AmerisourceBergen had a return on equity of 45.54% and a net margin of 0.99%. The company had revenue of $43.30 billion during the quarter, compared to analysts’ expectations of $43.27 billion. During the same period last year, the firm posted $1.33 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that AmerisourceBergen Corp. will post 6.82 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.80%. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 16th. AmerisourceBergen’s dividend payout ratio (DPR) is presently 23.42%.

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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: Understanding each part of a balance sheet

Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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