Clark Estates Inc. NY Increases Stake in AmerisourceBergen Corp. (ABC)

Clark Estates Inc. NY increased its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,300 shares of the company’s stock after buying an additional 1,300 shares during the period. Clark Estates Inc. NY’s holdings in AmerisourceBergen were worth $3,901,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of AmerisourceBergen by 140.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock valued at $105,000 after buying an additional 668 shares during the period. First Mercantile Trust Co. purchased a new position in shares of AmerisourceBergen during the second quarter valued at $107,000. Financial Gravity Wealth Inc. increased its stake in shares of 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 buying an additional 605 shares during the period. Truvestments Capital LLC purchased a new position in shares of AmerisourceBergen during the third quarter valued at $120,000. Finally, Centaurus Financial Inc. purchased a new position in shares of AmerisourceBergen during the second quarter valued at $129,000. Hedge funds and other institutional investors own 64.73% of the company’s stock.

ABC opened at $90.50 on Friday. AmerisourceBergen Corp. has a 1 year low of $77.28 and a 1 year high of $106.27. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.50 and a current ratio of 0.93. The stock has a market capitalization of $19.74 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.36 and a beta of 0.97.

AmerisourceBergen (NYSE:ABC) last posted its earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. The company had revenue of $43.30 billion for 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 firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Sell-side analysts predict that AmerisourceBergen Corp. will post 6.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, November 16th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.38. AmerisourceBergen’s dividend payout ratio (DPR) is currently 24.65%.

ABC has been the topic of several analyst reports. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Zacks Investment Research upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Mizuho reiterated a “neutral” rating on shares of AmerisourceBergen in a research note on Wednesday, September 19th. Robert W. Baird reiterated a “hold” rating and issued a $89.00 target price on shares of AmerisourceBergen in a research note on Friday, August 3rd. Finally, Royal Bank of Canada set a $90.00 target price on AmerisourceBergen and gave the company a “hold” rating in a research note on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $101.07.

In other AmerisourceBergen news, CEO Steven H. Collis sold 21,350 shares of the firm’s 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 sale, the chief executive officer now owns 287,925 shares of the company’s stock, valued at $25,432,415.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gina Clark sold 29,549 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $88.33, for a total value of $2,610,063.17. Following the completion of the sale, the executive vice president now directly owns 45,344 shares of the company’s stock, valued at approximately $4,005,235.52. The disclosure for this sale can be found here. In the last three months, insiders sold 142,753 shares of company stock valued at $12,814,187. Corporate insiders own 27.30% of the company’s stock.

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About AmerisourceBergen

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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