Comerica Bank Decreases Holdings in AmerisourceBergen Corp. (NYSE:ABC)

Comerica Bank lessened its stake in AmerisourceBergen Corp. (NYSE:ABC) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,866 shares of the company’s stock after selling 1,725 shares during the period. Comerica Bank’s holdings in AmerisourceBergen were worth $2,654,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acima Private Wealth LLC acquired a new position in shares of AmerisourceBergen during the 4th quarter worth about $26,000. Riverview Trust Co raised its position in AmerisourceBergen by 127.3% in the first quarter. Riverview Trust Co now owns 391 shares of the company’s stock worth $31,000 after acquiring an additional 219 shares during the period. Private Capital Group LLC raised its position in AmerisourceBergen by 201.3% in the fourth quarter. Private Capital Group LLC now owns 482 shares of the company’s stock worth $36,000 after acquiring an additional 322 shares during the period. JNBA Financial Advisors bought a new stake in AmerisourceBergen in the fourth quarter worth about $37,000. Finally, Trust Co. of Vermont raised its position in 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 acquiring an additional 453 shares during the period. Institutional investors and hedge funds own 66.56% of the company’s stock.

ABC traded down $1.39 during midday trading on Friday, hitting $85.05. 1,003,820 shares of the company traded hands, compared to its average volume of 1,460,872. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.56 and a current ratio of 0.95. The stock has a market capitalization of $17.94 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.65 and a beta of 0.92. AmerisourceBergen Corp. has a 52 week low of $69.36 and a 52 week high of $94.88.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $43.44 billion. During the same quarter in the prior year, the business earned $1.94 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. Research analysts forecast that AmerisourceBergen Corp. will post 6.84 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, May 17th. AmerisourceBergen’s dividend payout ratio (DPR) is presently 24.65%.

A number of research firms have recently weighed in on ABC. ValuEngine downgraded shares of AmerisourceBergen from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 23rd. Bank of America downgraded shares of AmerisourceBergen from a “buy” rating to an “underperform” rating and cut their price objective for the company from $95.00 to $76.00 in a research report on Wednesday, April 10th. TheStreet raised shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Tuesday, February 19th. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Wednesday. Finally, Guggenheim started coverage on shares of AmerisourceBergen in a research report on Thursday, April 11th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $88.33.

In other AmerisourceBergen news, insider Dale Danilewitz sold 543 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $78.77, for a total value of $42,772.11. Following the completion of the sale, the insider now directly owns 2,171 shares in the company, valued at approximately $171,009.67. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard W. Gochnauer sold 5,500 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.69, for a total value of $443,795.00. Following the transaction, the director now owns 12,364 shares of the company’s stock, valued at $997,651.16. The disclosure for this sale can be found here. Insiders sold a total of 51,563 shares of company stock worth $4,164,135 in the last quarter. Company insiders own 27.80% of the company’s stock.

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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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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