Cambridge Financial Group Inc. lowered its stake in AmerisourceBergen Corp. (NYSE:ABC) by 25.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,052 shares of the company’s stock after selling 17,420 shares during the quarter. AmerisourceBergen comprises approximately 2.4% of Cambridge Financial Group Inc.’s holdings, making the stock its 29th largest holding. Cambridge Financial Group Inc.’s holdings in AmerisourceBergen were worth $3,798,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in ABC. FMR LLC lifted its stake in AmerisourceBergen by 8.2% in the 2nd quarter. FMR LLC now owns 4,460,016 shares of the company’s stock worth $380,305,000 after purchasing an additional 338,690 shares in the last quarter. Denali Advisors LLC purchased a new stake in AmerisourceBergen in the 3rd quarter worth $360,000. Atria Investments LLC raised its position in shares of AmerisourceBergen by 11.5% during the 3rd quarter. Atria Investments LLC now owns 14,613 shares of the company’s stock valued at $1,348,000 after buying an additional 1,502 shares in the last quarter. Midas Management Corp raised its position in shares of AmerisourceBergen by 365.2% during the 3rd quarter. Midas Management Corp now owns 26,750 shares of the company’s stock valued at $2,467,000 after buying an additional 21,000 shares in the last quarter. Finally, Lincoln Capital Corp raised its position in shares of AmerisourceBergen by 4.6% during the 3rd quarter. Lincoln Capital Corp now owns 15,174 shares of the company’s stock valued at $1,399,000 after buying an additional 670 shares in the last quarter. Institutional investors and hedge funds own 66.10% of the company’s stock.
AmerisourceBergen stock opened at $85.77 on Wednesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.94. AmerisourceBergen Corp. has a 1-year low of $69.36 and a 1-year high of $102.00. The stock has a market capitalization of $17.90 billion, a P/E ratio of 13.22, a PEG ratio of 1.56 and a beta of 1.12.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, January 31st. The company reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.10. AmerisourceBergen had a net margin of 0.69% and a return on equity of 44.53%. The company had revenue of $45.39 billion for the quarter, compared to analyst estimates of $43.52 billion. Sell-side analysts expect that AmerisourceBergen Corp. will post 6.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Tuesday, February 19th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.87%. AmerisourceBergen’s dividend payout ratio (DPR) is currently 24.65%.
Several brokerages have recently issued reports on ABC. ValuEngine upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. UBS Group began coverage on shares of AmerisourceBergen in a research report on Thursday, January 17th. They set a “buy” rating and a $89.00 target price on the stock. TheStreet cut shares of AmerisourceBergen from a “b-” rating to a “c+” rating in a research report on Tuesday, January 8th. Zacks Investment Research upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Finally, Barclays restated a “hold” rating and set a $84.00 target price on shares of AmerisourceBergen in a research report on Sunday, January 6th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $99.00.
In related news, EVP Gina Clark sold 29,549 shares of the stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $88.33, for a total value of $2,610,063.17. Following the sale, the executive vice president now directly owns 45,344 shares of the company’s stock, valued at approximately $4,005,235.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathy H. Gaddes sold 2,652 shares of the stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $90.54, for a total transaction of $240,112.08. Following the completion of the sale, the insider now directly owns 4,591 shares in the company, valued at $415,669.14. The disclosure for this sale can be found here. Insiders sold a total of 137,449 shares of company stock worth $11,600,934 over the last three months. 27.80% of the stock is currently owned by corporate insiders.
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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.
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