Grantham Mayo Van Otterloo & Co. LLC reduced its holdings in shares of AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 21.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 98,222 shares of the company’s stock after selling 26,312 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in AmerisourceBergen were worth $13,896,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the business. Edgestream Partners L.P. purchased a new stake in AmerisourceBergen during the 2nd quarter worth approximately $234,000. Corient Capital Partners LLC increased its stake in AmerisourceBergen by 11.1% during the 2nd quarter. Corient Capital Partners LLC now owns 3,832 shares of the company’s stock worth $542,000 after buying an additional 383 shares during the period. Rhumbline Advisers increased its position in shares of AmerisourceBergen by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 350,782 shares of the company’s stock valued at $49,629,000 after purchasing an additional 4,589 shares during the last quarter. AlphaCrest Capital Management LLC increased its position in shares of AmerisourceBergen by 210.6% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 39,844 shares of the company’s stock valued at $5,637,000 after purchasing an additional 27,017 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of AmerisourceBergen by 101.6% in the 2nd quarter. Cetera Investment Advisers now owns 5,903 shares of the company’s stock valued at $835,000 after purchasing an additional 2,975 shares during the last quarter. 64.17% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, COO Robert P. Mauch sold 21,802 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $160.00, for a total value of $3,488,320.00. Following the completion of the sale, the chief operating officer now owns 20,197 shares in the company, valued at approximately $3,231,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 13,234,153 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $154.60, for a total value of $2,046,000,053.80. Following the completion of the sale, the insider now owns 39,629,714 shares in the company, valued at approximately $6,126,753,784.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert P. Mauch sold 21,802 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $160.00, for a total transaction of $3,488,320.00. Following the completion of the sale, the chief operating officer now owns 20,197 shares of the company’s stock, valued at approximately $3,231,520. The disclosure for this sale can be found here. Insiders sold a total of 13,278,915 shares of company stock worth $2,052,750,071 in the last 90 days. Company insiders own 28.40% of the company’s stock.
Wall Street Analyst Weigh In
AmerisourceBergen Stock Up 0.5 %
Shares of NYSE:ABC opened at $165.53 on Thursday. The stock has a market cap of $34.05 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.75 and a beta of 0.55. The firm has a fifty day moving average price of $147.56 and a 200 day moving average price of $147.00. The company has a debt-to-equity ratio of 64.99, a current ratio of 0.91 and a quick ratio of 0.55. AmerisourceBergen Co. has a 1-year low of $113.68 and a 1-year high of $167.29.
AmerisourceBergen (NYSE:ABC – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.02. The firm had revenue of $61.17 billion during the quarter, compared to analysts’ expectations of $60.56 billion. AmerisourceBergen had a net margin of 0.71% and a return on equity of 444.46%. AmerisourceBergen’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.39 EPS. Sell-side analysts predict that AmerisourceBergen Co. will post 11.49 EPS for the current year.
AmerisourceBergen Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 14th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.94 dividend on an annualized basis and a yield of 1.17%. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.46. AmerisourceBergen’s dividend payout ratio is currently 24.13%.
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, 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 alternate site pharmacies, and other customers.
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