AmerisourceBergen Corp. (ABC) Holdings Cut by Providence Capital Advisors LLC

Providence Capital Advisors LLC lessened its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 26.1% during the 1st quarter, HoldingsChannel reports. The fund owned 5,500 shares of the company’s stock after selling 1,945 shares during the period. Providence Capital Advisors LLC’s holdings in AmerisourceBergen were worth $437,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc raised its position in shares of AmerisourceBergen by 0.4% during the third quarter. Vanguard Group Inc now owns 16,019,657 shares of the company’s stock worth $1,477,332,000 after purchasing an additional 63,935 shares during the period. FMR LLC raised its position in shares of AmerisourceBergen by 51.7% during the fourth quarter. FMR LLC now owns 7,263,899 shares of the company’s stock worth $540,434,000 after purchasing an additional 2,474,112 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of AmerisourceBergen by 6,614.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,448,589 shares of the company’s stock worth $46,000 after purchasing an additional 3,397,228 shares during the period. Victory Capital Management Inc. raised its position in shares of AmerisourceBergen by 4.9% during the first quarter. Victory Capital Management Inc. now owns 2,523,629 shares of the company’s stock worth $200,679,000 after purchasing an additional 116,808 shares during the period. Finally, Boston Partners raised its position in shares of AmerisourceBergen by 222.4% during the first quarter. Boston Partners now owns 2,343,027 shares of the company’s stock worth $186,317,000 after purchasing an additional 1,616,201 shares during the period. 66.73% of the stock is currently owned by institutional investors.

AmerisourceBergen stock traded up $1.22 during midday trading on Tuesday, reaching $80.45. The stock had a trading volume of 7,254 shares, compared to its average volume of 1,486,679. AmerisourceBergen Corp. has a 1-year low of $69.36 and a 1-year high of $94.88. The firm has a market cap of $16.85 billion, a PE ratio of 12.45, a P/E/G ratio of 1.51 and a beta of 1.07. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.56 and a current ratio of 0.95.

AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.15. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $43.44 billion. AmerisourceBergen had a return on equity of 46.24% and a net margin of 0.53%. AmerisourceBergen’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 EPS. As a group, equities research analysts predict that AmerisourceBergen Corp. will post 6.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.99%. AmerisourceBergen’s dividend payout ratio is 24.65%.

A number of brokerages recently issued reports on ABC. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, May 14th. ValuEngine raised AmerisourceBergen from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd. Guggenheim began coverage on AmerisourceBergen in a research report on Thursday, April 11th. They issued a “buy” rating on the stock. Bank of America lowered AmerisourceBergen from a “buy” rating to an “underperform” rating and dropped their target price for the company from $95.00 to $76.00 in a research report on Wednesday, April 10th. Finally, Wolfe Research began coverage on AmerisourceBergen in a research report on Tuesday, April 2nd. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. AmerisourceBergen currently has an average rating of “Hold” and a consensus target price of $86.38.

In related news, CFO James F. Cleary, Jr. purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $77.52 per share, for a total transaction of $155,040.00. Following the completion of the purchase, the chief financial officer now directly owns 7,306 shares in the company, valued at $566,361.12. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dale Danilewitz sold 5,702 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $77.61, for a total value of $442,532.22. Following the completion of the transaction, the insider now owns 7,330 shares of the company’s stock, valued at $568,881.30. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,018 shares of company stock valued at $156,471 and sold 40,086 shares valued at $3,235,648. 27.80% of the stock is owned by company insiders.

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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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