Foster Victor Wealth Advisors LLC lowered its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 50.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,405 shares of the company’s stock after selling 6,412 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in AmerisourceBergen were worth $563,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of ABC. Rational Advisors LLC lifted 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 worth $30,000 after buying an additional 358 shares in the last quarter. Riverview Trust Co lifted its stake in shares of AmerisourceBergen by 127.3% in the first quarter. Riverview Trust Co now owns 391 shares of the company’s stock worth $31,000 after buying an additional 219 shares in the last quarter. Trust Co. of Vermont lifted its stake in shares of AmerisourceBergen by 963.8% in the first quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock worth $40,000 after buying an additional 453 shares in the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of AmerisourceBergen in the first quarter worth approximately $48,000. Finally, Valeo Financial Advisors LLC lifted its stake in shares of AmerisourceBergen by 139.1% in the second quarter. Valeo Financial Advisors LLC now owns 777 shares of the company’s stock worth $66,000 after buying an additional 452 shares in the last quarter. 66.49% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Dale Danilewitz sold 5,702 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.61, for a total transaction of $442,532.22. Following the completion of the transaction, the insider now owns 7,330 shares in the company, valued at $568,881.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 107,826 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the transaction, the chairman now 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. In the last 90 days, insiders have sold 163,179 shares of company stock valued at $13,907,781. 27.80% of the stock is owned by company insiders.
Shares of NYSE:ABC traded up $0.11 during midday trading on Friday, reaching $86.04. 164,785 shares of the company were exchanged, compared to its average volume of 1,125,840. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.43. The company’s fifty day moving average is $86.10. AmerisourceBergen Corp. has a one year low of $69.36 and a one year high of $94.85. The firm has a market capitalization of $18.06 billion, a PE ratio of 13.26, a PEG ratio of 1.65 and a beta of 0.95.
AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.15. AmerisourceBergen had a net margin of 0.53% and a return on equity of 46.24%. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $43.44 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. AmerisourceBergen’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that AmerisourceBergen Corp. will post 6.86 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on ABC. Argus dropped their target price on shares of 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 shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, June 12th. ValuEngine upgraded shares of Westpac Banking from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Guggenheim upped their target price on shares of Intuit from $260.00 to $310.00 in a research note on Thursday, April 11th. Finally, Bank of America set a $25.00 target price on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $88.33.
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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