Tavio Capital LLC decreased its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 46.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 174,578 shares of the company’s stock after selling 152,511 shares during the quarter. AmerisourceBergen comprises about 6.3% of Tavio Capital LLC’s investment portfolio, making the stock its 7th biggest position. Tavio Capital LLC’s holdings in AmerisourceBergen were worth $16,100,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Hallmark Capital Management Inc. raised its position in shares of AmerisourceBergen by 0.3% in the 3rd quarter. Hallmark Capital Management Inc. now owns 176,274 shares of the company’s stock worth $16,256,000 after buying an additional 600 shares during the period. Financial Gravity Wealth Inc. raised its position in shares of AmerisourceBergen by 93.2% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock worth $108,000 after buying an additional 605 shares during the period. Elmwood Wealth Management Inc. raised its position in shares of AmerisourceBergen by 8.9% in the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,533 shares of the company’s stock worth $695,000 after buying an additional 618 shares during the period. Parsons Capital Management Inc. RI raised its position in shares of AmerisourceBergen by 5.7% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 11,609 shares of the company’s stock worth $990,000 after buying an additional 621 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of AmerisourceBergen by 9.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,520 shares of the company’s stock worth $641,000 after buying an additional 660 shares during the period. Institutional investors and hedge funds own 64.73% of the company’s stock.
In other news, CEO Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $88.33, for a total transaction of $1,885,845.50. Following the sale, the chief executive officer now directly 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 can be accessed through this hyperlink. Also, insider John G. Chou sold 6,974 shares of AmerisourceBergen stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $86.19, for a total value of $601,089.06. Following the sale, the insider now directly owns 56,125 shares in the company, valued at $4,837,413.75. The disclosure for this sale can be found here. Insiders sold 122,477 shares of company stock worth $10,981,845 over the last three months. 27.30% of the stock is currently owned by corporate insiders.
Several research analysts recently weighed in on the company. Zacks Investment Research raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada set a $90.00 target price on AmerisourceBergen and gave the stock a “hold” rating in a research report on Wednesday, November 7th. Mizuho reaffirmed a “neutral” rating on shares of AmerisourceBergen in a research report on Wednesday, September 19th. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $89.00 target price on shares of AmerisourceBergen in a research report on Friday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. AmerisourceBergen presently has a consensus rating of “Buy” and a consensus price target of $101.07.
NYSE:ABC traded up $1.06 during mid-day trading on Monday, hitting $88.72. The company had a trading volume of 9,743 shares, compared to its average volume of 1,403,959. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.93 and a quick ratio of 0.50. AmerisourceBergen Corp. has a 1 year low of $77.28 and a 1 year high of $106.27. The firm has a market capitalization of $18.97 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.31 and a beta of 0.97.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Tuesday, November 6th. The company reported $1.45 EPS for the quarter, beating the 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 for the quarter, compared to analyst estimates of $43.27 billion. During the same period last year, the company posted $1.33 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that AmerisourceBergen Corp. will post 6.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 16th. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 1.80%. AmerisourceBergen’s dividend payout ratio (DPR) is 24.65%.
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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