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Meeder Asset Management Inc. Sells 113 Shares of AmerisourceBergen Co. (NYSE:ABC)

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Meeder Asset Management Inc. decreased its holdings in AmerisourceBergen Co. (NYSE:ABC) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,290 shares of the company’s stock after selling 113 shares during the period. Meeder Asset Management Inc.’s holdings in AmerisourceBergen were worth $154,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC increased its holdings in shares of AmerisourceBergen by 63.6% in the 3rd quarter. Bogart Wealth LLC now owns 229 shares of the company’s stock worth $27,000 after purchasing an additional 89 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of AmerisourceBergen in the second quarter worth $32,000. Evermay Wealth Management LLC bought a new stake in shares of AmerisourceBergen in the second quarter worth $40,000. Allworth Financial LP bought a new stake in shares of AmerisourceBergen in the third quarter worth $47,000. Finally, AdvisorNet Financial Inc bought a new stake in shares of AmerisourceBergen in the third quarter worth $48,000. 63.63% of the stock is owned by institutional investors and hedge funds.

Shares of AmerisourceBergen stock opened at $134.64 on Tuesday. The stock’s 50-day simple moving average is $125.16 and its 200-day simple moving average is $121.77. AmerisourceBergen Co. has a 52 week low of $100.71 and a 52 week high of $135.26. The company has a market capitalization of $28.02 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.53 and a beta of 0.51. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 10.92.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, November 4th. The company reported $2.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.03. AmerisourceBergen had a return on equity of 2,040.08% and a net margin of 0.72%. The business had revenue of $58.90 billion for the quarter, compared to the consensus estimate of $57.05 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The business’s revenue was up 19.6% on a year-over-year basis. On average, equities analysts expect that AmerisourceBergen Co. will post 10.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 29th. Stockholders of record on Monday, November 15th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.37%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, November 12th. AmerisourceBergen’s payout ratio is presently 24.90%.

In other news, CEO Steven H. Collis sold 24,264 shares of AmerisourceBergen stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $125.33, for a total value of $3,041,007.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert P. Mauch sold 41,214 shares of AmerisourceBergen stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $125.34, for a total value of $5,165,762.76. The disclosure for this sale can be found here. Insiders sold 134,601 shares of company stock worth $16,807,999 over the last 90 days. Company insiders own 28.40% of the company’s stock.

Several analysts recently commented on ABC shares. TheStreet raised AmerisourceBergen from a “d” rating to an “a-” rating in a report on Thursday, November 4th. Morgan Stanley lifted their price objective on AmerisourceBergen from $141.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, December 17th. Barclays lifted their price objective on AmerisourceBergen from $130.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on AmerisourceBergen from $136.00 to $153.00 and gave the company a “hold” rating in a research report on Friday, November 12th. Finally, Scotiabank downgraded AmerisourceBergen from an “outperform” rating to a “sector perform” rating in a research report on Thursday, January 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $142.63.

AmerisourceBergen Profile

AmerisourceBergen Corp. engages provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name; specialty brand-name and generic pharmaceuticals; over-the-counter healthcare products; home healthcare supplies and equipment; and related services to healthcare providers, including acute care hospitals and health systems; independent and chain retail pharmacies; mail order pharmacies; medical clinics; and long-term care and alternate site pharmacies.

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