TD Asset Management Inc. Sells 9,774 Shares of AmerisourceBergen Corp. (NYSE:ABC)

TD Asset Management Inc. decreased its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 2.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 354,523 shares of the company’s stock after selling 9,774 shares during the quarter. TD Asset Management Inc.’s holdings in AmerisourceBergen were worth $30,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in shares of AmerisourceBergen by 4.9% in 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. Northern Trust Corp increased its position in shares of AmerisourceBergen by 14.4% in the first quarter. Northern Trust Corp now owns 2,433,611 shares of the company’s stock worth $193,521,000 after purchasing an additional 306,161 shares during the period. Boston Partners increased its position in shares of AmerisourceBergen by 222.4% in 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. Wells Fargo & Company MN increased its position in shares of AmerisourceBergen by 5.1% in the first quarter. Wells Fargo & Company MN now owns 2,324,484 shares of the company’s stock worth $184,843,000 after purchasing an additional 113,847 shares during the period. Finally, Beutel Goodman & Co Ltd. increased its position in shares of AmerisourceBergen by 1.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 2,297,517 shares of the company’s stock worth $136,714,000 after purchasing an additional 32,310 shares during the period. Hedge funds and other institutional investors own 66.03% of the company’s stock.

In other news, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction dated 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 of the company’s stock, valued at $13,838,676.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dale Danilewitz sold 543 shares of AmerisourceBergen stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $81.16, for a total value of $44,069.88. Following the sale, the insider now directly owns 1,085 shares in the company, valued at $88,058.60. The disclosure for this sale can be found here. Insiders have sold 191,379 shares of company stock worth $16,502,190 over the last three months. Insiders own 27.80% of the company’s stock.

A number of brokerages recently commented on ABC. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Wednesday, June 12th. Argus reduced their price objective on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $88.00.

NYSE:ABC traded up $1.66 during trading hours on Friday, hitting $87.63. The company’s stock had a trading volume of 12,354 shares, compared to its average volume of 1,439,489. The stock has a fifty day simple moving average of $87.39 and a 200-day simple moving average of $81.97. The company has a market capitalization of $18.76 billion, a P/E ratio of 13.53, a PEG ratio of 1.60 and a beta of 0.97. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $94.85.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, beating the 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 return on equity of 47.88% and a net margin of 0.54%. AmerisourceBergen’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. On average, equities analysts predict that AmerisourceBergen Corp. will post 7.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, August 16th. AmerisourceBergen’s payout ratio is 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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