AmerisourceBergen Corp. (ABC) Holdings Lessened by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System trimmed its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 217,129 shares of the company’s stock after selling 3,044 shares during the period. State Board of Administration of Florida Retirement System owned about 0.10% of AmerisourceBergen worth $20,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Mercantile Trust Co. bought a new stake in shares of AmerisourceBergen in the 2nd quarter valued at approximately $107,000. Financial Gravity Wealth Inc. increased its holdings in shares of AmerisourceBergen by 93.2% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock valued at $108,000 after acquiring an additional 605 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of AmerisourceBergen in the 3rd quarter valued at approximately $120,000. Centaurus Financial Inc. bought a new stake in shares of AmerisourceBergen in the 2nd quarter valued at approximately $129,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of AmerisourceBergen in the 3rd quarter valued at approximately $130,000. 66.19% of the stock is currently owned by institutional investors.

In other news, CEO Steven H. Collis sold 21,350 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $88.33, for a total value of $1,885,845.50. Following the completion of the transaction, the chief executive officer now owns 287,925 shares of the company’s stock, valued at $25,432,415.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kathy H. Gaddes sold 2,652 shares of the stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $92.96, for a total value of $246,529.92. Following the completion of the transaction, the executive vice president now directly owns 3,891 shares of the company’s stock, valued at approximately $361,707.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,928 shares of company stock valued at $8,332,406. 27.30% of the stock is owned by company insiders.

ABC has been the subject of a number of research analyst reports. Zacks Investment Research downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Mizuho reiterated a “hold” rating and issued a $90.00 price target on shares of AmerisourceBergen in a report on Sunday, August 12th. Royal Bank of Canada set a $90.00 price target on AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday. Finally, Robert W. Baird reiterated a “hold” rating and issued a $89.00 price target on shares of AmerisourceBergen in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $101.07.

Shares of ABC opened at $89.17 on Friday. The firm has a market cap of $18.17 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.23 and a beta of 0.97. The company has a quick ratio of 0.51, a current ratio of 0.93 and a debt-to-equity ratio of 1.36. AmerisourceBergen Corp. has a 12 month low of $74.05 and a 12 month high of $106.27.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.01. The firm had revenue of $43.30 billion during the quarter, compared to the consensus estimate of $43.27 billion. AmerisourceBergen had a return on equity of 45.54% and a net margin of 0.99%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 EPS. On average, equities analysts forecast that AmerisourceBergen Corp. will post 6.8 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be paid a dividend of $0.40 per share. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Friday, November 16th. AmerisourceBergen’s dividend payout ratio is presently 23.42%.

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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.

Further Reading: What are the Different Types of Leveraged Buyouts?

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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