Bessemer Group Inc. Reduces Position in AmerisourceBergen Corp. (ABC)

Bessemer Group Inc. lowered its position in AmerisourceBergen Corp. (NYSE:ABC) by 45.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,385 shares of the company’s stock after selling 2,788 shares during the period. Bessemer Group Inc.’s holdings in AmerisourceBergen were worth $312,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ABC. BlackRock Inc. grew its holdings in AmerisourceBergen by 4.6% during the second quarter. BlackRock Inc. now owns 12,776,453 shares of the company’s stock valued at $1,089,447,000 after purchasing an additional 557,312 shares during the last quarter. Vulcan Value Partners LLC grew its holdings in AmerisourceBergen by 1.7% during the second quarter. Vulcan Value Partners LLC now owns 4,988,485 shares of the company’s stock valued at $425,368,000 after purchasing an additional 82,224 shares during the last quarter. FMR LLC grew its holdings in AmerisourceBergen by 8.2% during the second quarter. FMR LLC now owns 4,460,016 shares of the company’s stock valued at $380,305,000 after purchasing an additional 338,690 shares during the last quarter. Burgundy Asset Management Ltd. grew its holdings in AmerisourceBergen by 1.0% during the second quarter. Burgundy Asset Management Ltd. now owns 2,742,554 shares of the company’s stock valued at $233,858,000 after purchasing an additional 26,297 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. grew its holdings in AmerisourceBergen by 16.7% during the second quarter. Beutel Goodman & Co Ltd. now owns 2,287,719 shares of the company’s stock valued at $148,412,000 after purchasing an additional 327,552 shares during the last quarter. Hedge funds and other institutional investors own 64.73% of the company’s stock.

Several brokerages have commented on ABC. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Thursday. Mizuho reiterated a “neutral” rating on shares of AmerisourceBergen in a report on Wednesday, September 19th. Robert W. Baird reiterated a “hold” rating and set a $89.00 price target on shares of AmerisourceBergen in a report on Friday, August 3rd. Finally, Royal Bank of Canada set a $90.00 price target on AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, November 7th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $101.07.

In related news, EVP Gina Clark sold 29,549 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $88.33, for a total value of $2,610,063.17. Following the completion of the transaction, the executive vice president now directly owns 45,344 shares of the company’s stock, valued at $4,005,235.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kathy H. Gaddes sold 2,652 shares of the firm’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $89.79, for a total value of $238,123.08. Following the completion of the transaction, the executive vice president now directly owns 3,891 shares of the company’s stock, valued at $349,372.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,477 shares of company stock worth $10,981,845. 27.30% of the stock is currently owned by corporate insiders.

Shares of AmerisourceBergen stock opened at $87.66 on Friday. The firm has a market capitalization of $18.92 billion, a PE ratio of 13.51, a P/E/G ratio of 1.30 and a beta of 0.97. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.50 and a current ratio of 0.93. AmerisourceBergen Corp. has a 1 year low of $77.28 and a 1 year high of $106.27.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.01. The business had revenue of $43.30 billion for the quarter, compared to the consensus estimate of $43.27 billion. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. AmerisourceBergen’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. On average, sell-side analysts anticipate that AmerisourceBergen Corp. will post 6.81 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be paid a $0.40 dividend. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.83%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 24.65%.

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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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