AmerisourceBergen Corporation (Holding Co) (ABC) CFO Tim G. Guttman Sells 11,600 Shares of Stock

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) CFO Tim G. Guttman sold 11,600 shares of AmerisourceBergen stock in a transaction on Monday, December 4th. The stock was sold at an average price of $85.73, for a total transaction of $994,468.00. Following the sale, the chief financial officer now directly owns 56,436 shares in the company, valued at approximately $4,838,258.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Tim G. Guttman also recently made the following trade(s):

  • On Wednesday, September 20th, Tim G. Guttman sold 11,600 shares of AmerisourceBergen stock. The stock was sold at an average price of $79.47, for a total transaction of $921,852.00.

Shares of AmerisourceBergen Corporation (NYSE ABC) traded down $1.53 during mid-day trading on Wednesday, hitting $85.89. 1,906,100 shares of the stock traded hands, compared to its average volume of 1,797,717. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. The firm has a market cap of $19,064.73, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.52 and a beta of 1.00. AmerisourceBergen Corporation has a 1 year low of $71.90 and a 1 year high of $97.85.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion for the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. analysts expect that AmerisourceBergen Corporation will post 6.06 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were given a dividend of $0.38 per share. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 17th. This represents a $1.52 annualized dividend and a dividend yield of 1.77%. AmerisourceBergen’s payout ratio is presently 82.16%.

A number of hedge funds and other institutional investors have recently bought and sold shares of ABC. Municipal Employees Retirement System of Michigan lifted its position in AmerisourceBergen by 49.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,060 shares of the company’s stock valued at $762,000 after buying an additional 2,670 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in AmerisourceBergen by 5.5% in the second quarter. Janney Montgomery Scott LLC now owns 20,663 shares of the company’s stock valued at $1,953,000 after buying an additional 1,080 shares during the last quarter. Sei Investments Co. lifted its position in AmerisourceBergen by 31.4% in the second quarter. Sei Investments Co. now owns 131,059 shares of the company’s stock valued at $12,390,000 after buying an additional 31,334 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its position in AmerisourceBergen by 15.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 31,798 shares of the company’s stock valued at $3,006,000 after buying an additional 4,279 shares during the last quarter. Finally, Baker Ellis Asset Management LLC lifted its position in AmerisourceBergen by 3.8% in the second quarter. Baker Ellis Asset Management LLC now owns 51,610 shares of the company’s stock valued at $4,879,000 after buying an additional 1,880 shares during the last quarter. 67.83% of the stock is currently owned by institutional investors.

ABC has been the topic of several recent research reports. Needham & Company LLC lifted their target price on shares of AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Jefferies Group set a $95.00 target price on shares of AmerisourceBergen and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Robert W. Baird reaffirmed a “buy” rating and set a $96.00 target price on shares of AmerisourceBergen in a research note on Monday, November 6th. Mizuho set a $92.00 target price on shares of AmerisourceBergen and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Finally, ValuEngine raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $91.95.

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About AmerisourceBergen

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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