AmerisourceBergen Corp. (NYSE:ABC) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Shareholders of record on Tuesday, February 20th will be paid a dividend of 0.38 per share on Monday, March 5th. This represents a $1.52 dividend on an annualized basis and a yield of 1.61%.
AmerisourceBergen has raised its dividend by an average of 14.0% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. AmerisourceBergen has a payout ratio of 24.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect AmerisourceBergen to earn $6.97 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 21.8%.
Shares of AmerisourceBergen (NYSE ABC) traded up $2.68 during mid-day trading on Wednesday, reaching $94.22. 2,508,390 shares of the company’s stock were exchanged, compared to its average volume of 1,650,000. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.83. AmerisourceBergen has a one year low of $71.90 and a one year high of $106.27. The stock has a market capitalization of $20,590.00, a P/E ratio of 21.37, a PEG ratio of 1.54 and a beta of 1.02.
In related news, CFO Tim G. Guttman sold 11,600 shares of AmerisourceBergen stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $85.73, for a total value of $994,468.00. Following the completion of the transaction, the chief financial officer now owns 56,436 shares in the company, valued at $4,838,258.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $82.53, for a total transaction of $1,762,015.50. Following the completion of the transaction, the chairman now owns 287,925 shares of the company’s stock, valued at approximately $23,762,450.25. The disclosure for this sale can be found here. Insiders sold 201,934 shares of company stock valued at $18,152,630 in the last 90 days. Company insiders own 27.30% of the company’s stock.
A number of equities research analysts have recently issued reports on ABC shares. Credit Suisse Group reissued an “outperform” rating and issued a $112.00 price target (up from $105.00) on shares of AmerisourceBergen in a research note on Wednesday. They noted that the move was a valuation call. Royal Bank of Canada reissued a “hold” rating and issued a $102.00 price target on shares of AmerisourceBergen in a research note on Wednesday. Zacks Investment Research downgraded shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Mizuho set a $100.00 price target on shares of AmerisourceBergen and gave the company a “hold” rating in a research note on Wednesday, January 24th. Finally, Needham & Company LLC boosted their price target on shares of AmerisourceBergen from $88.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen presently has an average rating of “Buy” and an average price target of $100.67.
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AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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