Occidental Asset Management LLC Acquires 2,086 Shares of AmerisourceBergen Corp. (NYSE:ABC)

Occidental Asset Management LLC boosted its position in AmerisourceBergen Corp. (NYSE:ABC) by 35.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,969 shares of the company’s stock after purchasing an additional 2,086 shares during the period. Occidental Asset Management LLC’s holdings in AmerisourceBergen were worth $679,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Boston Partners boosted its stake in AmerisourceBergen by 222.4% in the first quarter. Boston Partners now owns 2,343,027 shares of the company’s stock valued at $186,317,000 after acquiring an additional 1,616,201 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in AmerisourceBergen by 318.9% in the first quarter. Marshall Wace North America L.P. now owns 907,474 shares of the company’s stock valued at $72,163,000 after acquiring an additional 690,823 shares during the last quarter. Ceredex Value Advisors LLC boosted its stake in AmerisourceBergen by 23.9% in the first quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock valued at $169,787,000 after acquiring an additional 411,607 shares during the last quarter. Northern Trust Corp boosted its stake in AmerisourceBergen by 14.4% in the first quarter. Northern Trust Corp now owns 2,433,611 shares of the company’s stock valued at $193,521,000 after acquiring an additional 306,161 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in AmerisourceBergen by 29.0% in the first quarter. Janus Henderson Group PLC now owns 935,861 shares of the company’s stock valued at $74,420,000 after acquiring an additional 210,510 shares during the last quarter. 66.03% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on ABC shares. Argus dropped their target price on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. TheStreet upgraded shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. AmerisourceBergen presently has a consensus rating of “Hold” and an average target price of $88.00.

In related news, insider Dale Danilewitz sold 543 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $81.16, for a total transaction of $44,069.88. Following the sale, the insider now owns 1,085 shares of the company’s stock, valued at approximately $88,058.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.58, for a total transaction of $1,783,089.90. Following the sale, the chief executive officer now directly owns 154,484 shares in the company, valued at approximately $13,838,676.72. The disclosure for this sale can be found here. Insiders have sold a total of 191,379 shares of company stock worth $16,502,190 in the last ninety days. 27.80% of the stock is currently owned by insiders.

AmerisourceBergen stock traded down $0.32 during midday trading on Thursday, reaching $86.02. 62,692 shares of the stock were exchanged, compared to its average volume of 1,416,052. The firm has a fifty day simple moving average of $87.35. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The stock has a market cap of $18.37 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.57 and a beta of 0.97. AmerisourceBergen Corp. has a 52 week low of $69.36 and a 52 week high of $94.85.

AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.14. The business had revenue of $45.24 billion for the quarter, compared to analyst estimates of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. AmerisourceBergen’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 EPS. As a group, analysts forecast that AmerisourceBergen Corp. will post 7.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, August 16th. AmerisourceBergen’s dividend payout ratio (DPR) is presently 24.65%.

AmerisourceBergen Company Profile

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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