River Wealth Advisors LLC lowered its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 8.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,244 shares of the company’s stock after selling 2,374 shares during the period. River Wealth Advisors LLC’s holdings in AmerisourceBergen were worth $2,152,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in ABC. Rational Advisors LLC raised its stake in shares of AmerisourceBergen by 1,627.3% during the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock worth $30,000 after purchasing an additional 358 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of AmerisourceBergen by 963.8% during the 1st quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock worth $40,000 after purchasing an additional 453 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of AmerisourceBergen during the 1st quarter worth approximately $48,000. Winslow Evans & Crocker Inc. raised its stake in shares of AmerisourceBergen by 212.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 718 shares of the company’s stock worth $62,000 after purchasing an additional 488 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in shares of AmerisourceBergen by 139.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 777 shares of the company’s stock worth $66,000 after purchasing an additional 452 shares in the last quarter. Institutional investors own 66.59% of the company’s stock.
ABC traded down $0.44 during trading hours on Friday, reaching $87.45. The company’s stock had a trading volume of 766,950 shares, compared to its average volume of 1,441,026. AmerisourceBergen Corp. has a 52 week low of $69.36 and a 52 week high of $94.85. The company’s 50-day simple moving average is $87.01. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.57 and a beta of 0.97.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, August 16th. AmerisourceBergen’s payout ratio is 24.65%.
A number of equities research analysts have recently issued reports on ABC shares. Argus dropped their price objective on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Wednesday, June 12th. ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $88.25.
In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.58, for a total transaction of $1,783,089.90. Following the transaction, the chief executive officer now owns 154,484 shares in the company, valued at approximately $13,838,676.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dale Danilewitz sold 543 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $81.16, for a total value of $44,069.88. Following the transaction, the insider now owns 1,085 shares in the company, valued at approximately $88,058.60. The disclosure for this sale can be found here. Insiders have sold a total of 191,379 shares of company stock worth $16,502,190 in the last quarter. Company insiders own 27.80% of the company’s stock.
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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