Huntington National Bank cut its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,744 shares of the company’s stock after selling 844 shares during the quarter. Huntington National Bank’s holdings in AmerisourceBergen were worth $530,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Capital Wealth Planning LLC boosted its stake in shares of AmerisourceBergen by 412.1% in the second quarter. Capital Wealth Planning LLC now owns 12,577 shares of the company’s stock valued at $1,072,000 after buying an additional 10,121 shares in the last quarter. Sio Capital Management LLC acquired a new position in AmerisourceBergen during the second quarter worth $1,180,000. Intrepid Capital Management Inc. raised its holdings in AmerisourceBergen by 7.1% during the second quarter. Intrepid Capital Management Inc. now owns 157,485 shares of the company’s stock worth $13,429,000 after purchasing an additional 10,495 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in AmerisourceBergen by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 849,688 shares of the company’s stock worth $72,459,000 after purchasing an additional 23,216 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in AmerisourceBergen by 14.8% during the second quarter. Toronto Dominion Bank now owns 132,971 shares of the company’s stock worth $11,337,000 after purchasing an additional 17,141 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Several brokerages recently issued reports on ABC. Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Mizuho reaffirmed a “neutral” rating on shares of AmerisourceBergen in a report on Wednesday, September 19th. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Robert W. Baird reaffirmed a “hold” rating and set a $89.00 price objective on shares of AmerisourceBergen in a report on Friday, August 3rd. Finally, Morgan Stanley reduced their price objective on AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $101.80.

In other news, CEO Steven H. Collis sold 21,350 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $81.25, for a total value of $1,734,687.50. Following the completion of the transaction, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at $23,393,906.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John G. Chou sold 6,974 shares of the business’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $88.07, for a total value of $614,200.18. Following the completion of the transaction, the executive vice president now directly owns 56,125 shares of the company’s stock, valued at $4,942,928.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,396 shares of company stock valued at $8,134,232. Insiders own 27.30% of the company’s stock.

NYSE ABC opened at $90.22 on Tuesday. AmerisourceBergen Corp. has a fifty-two week low of $71.90 and a fifty-two week high of $106.27. The firm has a market capitalization of $20.08 billion, a PE ratio of 14.59, a P/E/G ratio of 1.32 and a beta of 1.02. The company has a quick ratio of 0.51, a current ratio of 0.94 and a debt-to-equity ratio of 1.39.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, August 2nd. The company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.08. AmerisourceBergen had a return on equity of 48.65% and a net margin of 0.69%. The company had revenue of $43.14 billion during the quarter, compared to analysts’ expectations of $43.05 billion. During the same period in the previous year, the firm posted $1.43 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts predict that AmerisourceBergen Corp. will post 6.48 earnings per share for the current fiscal year.

About AmerisourceBergen

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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