Bank of Stockton Decreases Stock Holdings in AmerisourceBergen Corp. (NYSE:ABC)

Bank of Stockton lowered its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,937 shares of the company’s stock after selling 215 shares during the period. Bank of Stockton’s holdings in AmerisourceBergen were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ABC. Alpha Windward LLC lifted its holdings in shares of AmerisourceBergen by 6.6% in the second quarter. Alpha Windward LLC now owns 1,845 shares of the company’s stock valued at $161,000 after purchasing an additional 114 shares in the last quarter. Capital Wealth Planning LLC lifted its holdings in shares of AmerisourceBergen by 1.1% in the second quarter. Capital Wealth Planning LLC now owns 10,236 shares of the company’s stock valued at $873,000 after purchasing an additional 115 shares in the last quarter. Pathstone Family Office LLC lifted its holdings in shares of AmerisourceBergen by 67.7% in the second quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock valued at $27,000 after purchasing an additional 126 shares in the last quarter. Rothschild Investment Corp IL lifted its holdings in shares of AmerisourceBergen by 1.1% in the second 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. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in shares of AmerisourceBergen by 1.3% in the second quarter. Nicholas Hoffman & Company LLC. now owns 10,954 shares of the company’s stock valued at $934,000 after purchasing an additional 141 shares in the last quarter. 66.00% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Steven H. Collis sold 19,905 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.58, for a total transaction of $1,783,089.90. Following the completion of the transaction, the chief executive officer now owns 154,484 shares of the company’s stock, valued at $13,838,676.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John G. Chou sold 13,997 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $81.48, for a total transaction of $1,140,475.56. Following the transaction, the executive vice president now directly owns 65,782 shares of the company’s stock, valued at approximately $5,359,917.36. The disclosure for this sale can be found here. Insiders have sold 109,506 shares of company stock valued at $9,412,050 in the last ninety days. 27.80% of the stock is currently owned by company insiders.

NYSE:ABC opened at $85.65 on Thursday. The firm has a 50 day simple moving average of $84.05 and a 200-day simple moving average of $82.83. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. The firm has a market cap of $18.09 billion, a PE ratio of 13.20, a P/E/G ratio of 1.44 and a beta of 1.00. AmerisourceBergen Corp. has a 1-year low of $69.36 and a 1-year high of $94.75.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. The business had revenue of $45.24 billion during 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%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 earnings per share. As a group, sell-side analysts expect that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.

Several brokerages have issued reports on ABC. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Deutsche Bank began coverage on shares of AmerisourceBergen in a report on Thursday, September 12th. They issued a “hold” rating and a $91.00 price target on the stock. TheStreet raised shares of AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Finally, Morgan Stanley reduced their price target on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. AmerisourceBergen presently has an average rating of “Hold” and a consensus target price of $87.38.

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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