Hi Line Capital Management LLC Has $4.49 Million Stock Position in AmerisourceBergen Corp. (NYSE:ABC)

Hi Line Capital Management LLC boosted its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 52,630 shares of the company’s stock after buying an additional 298 shares during the period. AmerisourceBergen makes up approximately 2.1% of Hi Line Capital Management LLC’s holdings, making the stock its 22nd biggest holding. Hi Line Capital Management LLC’s holdings in AmerisourceBergen were worth $4,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ABC. Motco bought a new position in AmerisourceBergen during the second quarter worth $26,000. Rational Advisors LLC increased its stake in shares of AmerisourceBergen by 1,627.3% in the first quarter. Rational Advisors LLC now owns 380 shares of the company’s stock valued at $30,000 after buying an additional 358 shares during the period. Citizens Financial Group Inc RI boosted its holdings in AmerisourceBergen by 316.5% in the second quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock valued at $39,000 after acquiring an additional 345 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its holdings in AmerisourceBergen by 212.2% in the second quarter. Winslow Evans & Crocker Inc. now owns 718 shares of the company’s stock valued at $62,000 after acquiring an additional 488 shares during the last quarter. Finally, Cidel Asset Management Inc. bought a new position in shares of AmerisourceBergen during the 2nd quarter worth approximately $225,000. Institutional investors own 66.10% of the company’s stock.

NYSE ABC opened at $84.81 on Friday. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.54 and a beta of 1.00. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average price of $86.21 and a 200-day moving average price of $82.00. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $94.85.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $45.15 billion. During the same period in the prior year, the company earned $1.54 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Research analysts expect that AmerisourceBergen Corp. will post 7.05 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.60 annualized dividend and a yield of 1.89%. AmerisourceBergen’s payout ratio is currently 24.65%.

In other news, insider John G. Chou sold 13,997 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.58, for a total value of $1,253,851.26. Following the completion of the sale, the insider now owns 65,782 shares of the company’s stock, valued at approximately $5,892,751.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 107,826 shares of AmerisourceBergen stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total value of $9,292,444.68. Following the sale, the chairman now directly owns 242,405 shares of the company’s stock, valued at approximately $20,890,462.90. The disclosure for this sale can be found here. Insiders have sold a total of 186,215 shares of company stock worth $16,240,235 over the last 90 days. 27.80% of the stock is currently owned by company insiders.

A number of equities analysts have recently weighed in on ABC shares. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. Argus decreased their target price on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Wednesday, June 12th. Finally, Morgan Stanley cut their target price on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. AmerisourceBergen has a consensus rating of “Hold” and an average target price of $87.38.

AmerisourceBergen 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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