Torch Wealth Management LLC lowered its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 6.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,020 shares of the company’s stock after selling 650 shares during the period. Torch Wealth Management LLC’s holdings in AmerisourceBergen were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ABC. Alpha Windward LLC grew its position in AmerisourceBergen by 6.6% during the second quarter. Alpha Windward LLC now owns 1,845 shares of the company’s stock worth $161,000 after buying an additional 114 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of AmerisourceBergen by 1.1% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,424 shares of the company’s stock valued at $988,000 after purchasing an additional 138 shares in the last quarter. Rothschild Investment Corp IL boosted its holdings in shares of AmerisourceBergen by 1.1% in the 2nd quarter. Rothschild Investment Corp IL now owns 12,345 shares of the company’s stock valued at $1,053,000 after purchasing an additional 140 shares in the last quarter. Hartford Investment Management Co. boosted its holdings in shares of AmerisourceBergen by 0.8% in the 2nd quarter. Hartford Investment Management Co. now owns 18,286 shares of the company’s stock valued at $1,559,000 after purchasing an additional 151 shares in the last quarter. Finally, Tocqueville Asset Management L.P. boosted its holdings in shares of AmerisourceBergen by 0.8% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 19,158 shares of the company’s stock valued at $1,633,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 66.03% of the company’s stock.
A number of equities research analysts have weighed in on ABC shares. Argus reduced their target price on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned 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 price target of $88.00.
Shares of NYSE ABC traded down $0.36 during mid-day trading on Thursday, hitting $85.99. 735,925 shares of the stock traded hands, compared to its average volume of 1,416,052. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $94.85. The firm has a market capitalization of $18.37 billion, a P/E ratio of 13.25, a PEG ratio of 1.57 and a beta of 0.97. The firm’s 50 day simple moving average is $87.35.
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 Thomson Reuters’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. During the same quarter last year, the business posted $1.54 EPS. AmerisourceBergen’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that AmerisourceBergen Corp. will post 7.05 EPS for the current year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, August 16th. AmerisourceBergen’s dividend payout ratio (DPR) is 24.65%.
In related news, insider Dale Danilewitz sold 543 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $81.16, for a total transaction of $44,069.88. Following the completion of the transaction, the insider now directly owns 1,085 shares of the company’s stock, valued at approximately $88,058.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard W. Gochnauer sold 5,500 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.69, for a total value of $443,795.00. Following the transaction, the director now directly owns 12,364 shares of the company’s stock, valued at $997,651.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,379 shares of company stock valued at $16,502,190. 27.80% of the stock is owned by corporate insiders.
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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