Pflug Koory LLC Decreases Stake in AmerisourceBergen Corp. (NYSE:ABC)

Pflug Koory LLC lowered its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 26.4% in the 3rd quarter, Holdings Channel reports. The firm owned 4,540 shares of the company’s stock after selling 1,625 shares during the period. Pflug Koory LLC’s holdings in AmerisourceBergen were worth $374,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. NuWave Investment Management LLC raised its stake in shares of AmerisourceBergen by 25.7% in the third quarter. NuWave Investment Management LLC now owns 778 shares of the company’s stock worth $63,000 after purchasing an additional 159 shares during the last quarter. Bowling Portfolio Management LLC raised its stake in shares of AmerisourceBergen by 169.9% in the third quarter. Bowling Portfolio Management LLC now owns 51,894 shares of the company’s stock worth $4,272,000 after purchasing an additional 32,665 shares during the last quarter. Winmill & CO. Inc. purchased a new position in shares of AmerisourceBergen in the third quarter worth $2,202,000. Foster Victor Wealth Advisors LLC increased its position in AmerisourceBergen by 49.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 9,555 shares of the company’s stock valued at $782,000 after acquiring an additional 3,150 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in AmerisourceBergen during the third quarter valued at $80,000. Hedge funds and other institutional investors own 65.99% of the company’s stock.

AmerisourceBergen stock traded up $1.71 during mid-day trading on Tuesday, reaching $83.29. 490,395 shares of the stock traded hands, compared to its average volume of 1,128,754. The stock has a market capitalization of $17.30 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.00. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $94.85. The business’s 50-day moving average is $83.18 and its 200-day moving average is $82.38.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. The company had revenue of $45.24 billion during the quarter, compared to analysts’ expectations of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. AmerisourceBergen’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 earnings per share. Equities analysts anticipate that AmerisourceBergen Corp. will post 7.05 EPS for the current fiscal year.

A number of analysts recently commented on ABC shares. Deutsche Bank started coverage on AmerisourceBergen in a research report on Thursday, September 12th. They set a “hold” rating and a $91.00 price objective for the company. Morgan Stanley reduced their price objective on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. Finally, ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $87.38.

In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.58, for a total value of $1,783,089.90. Following the completion of the sale, the chief executive officer now owns 154,484 shares in the company, valued at $13,838,676.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John G. Chou sold 13,997 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.58, for a total value of $1,253,851.26. Following the completion of the sale, the insider now owns 65,782 shares of the company’s stock, valued at approximately $5,892,751.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,506 shares of company stock valued at $9,412,050. 27.80% of the stock is owned by company insiders.

AmerisourceBergen 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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