Barrett Asset Management LLC reduced its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 38,875 shares of the company’s stock after selling 850 shares during the quarter. Barrett Asset Management LLC’s holdings in AmerisourceBergen were worth $3,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in ABC. Thrivent Financial For Lutherans raised its stake in AmerisourceBergen by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock valued at $591,000 after purchasing an additional 180 shares during the last quarter. Numeric Investors LLC raised its stake in AmerisourceBergen by 45.2% during the 2nd quarter. Numeric Investors LLC now owns 4,500 shares of the company’s stock valued at $425,000 after purchasing an additional 1,400 shares during the last quarter. Macquarie Group Ltd. raised its stake in AmerisourceBergen by 157.2% during the 2nd quarter. Macquarie Group Ltd. now owns 20,320 shares of the company’s stock valued at $1,921,000 after purchasing an additional 12,420 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in AmerisourceBergen by 48.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 313,320 shares of the company’s stock valued at $29,618,000 after purchasing an additional 101,751 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in AmerisourceBergen during the 2nd quarter valued at $1,291,000. Hedge funds and other institutional investors own 67.57% of the company’s stock.
Shares of AmerisourceBergen Corp. (ABC) opened at $89.19 on Friday. The stock has a market cap of $20,110.70, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02. The company has a quick ratio of 0.48, a current ratio of 0.95 and a debt-to-equity ratio of 1.61. AmerisourceBergen Corp. has a fifty-two week low of $71.90 and a fifty-two week high of $106.27.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 5th. Stockholders of record on Tuesday, February 20th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, February 16th. AmerisourceBergen’s payout ratio is 32.76%.
In other news, insider Dale Danilewitz sold 1,857 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $74.69, for a total value of $138,699.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peyton R. Howell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.60, for a total transaction of $274,800.00. Following the completion of the sale, the insider now directly owns 49,189 shares in the company, valued at approximately $4,505,712.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,934 shares of company stock worth $18,427,430. 27.30% of the stock is owned by insiders.
Several research firms recently commented on ABC. TheStreet upgraded shares of AmerisourceBergen from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. Jefferies Group set a $95.00 target price on shares of AmerisourceBergen and gave the company a “hold” rating in a research note on Wednesday. Royal Bank of Canada reiterated a “hold” rating and set a $102.00 target price on shares of AmerisourceBergen in a research note on Wednesday. Needham & Company LLC lowered their price target on shares of AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $112.00 price target (up previously from $105.00) on shares of AmerisourceBergen in a report on Wednesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. AmerisourceBergen presently has a consensus rating of “Buy” and a consensus target price of $101.17.
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AmerisourceBergen Company Profile
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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