Unigestion Holding SA reduced its stake in AmerisourceBergen Corp. (NYSE:ABC) by 73.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 119,109 shares of the company’s stock after selling 330,604 shares during the quarter. Unigestion Holding SA owned about 0.06% of AmerisourceBergen worth $10,984,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in ABC. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of AmerisourceBergen in the 2nd quarter valued at approximately $99,092,000. Equity Investment Corp purchased a new position in shares of AmerisourceBergen in the 3rd quarter valued at approximately $69,621,000. Millennium Management LLC raised its position in shares of AmerisourceBergen by 183.5% in the 2nd quarter. Millennium Management LLC now owns 1,145,365 shares of the company’s stock valued at $97,665,000 after purchasing an additional 741,391 shares during the last quarter. Mainstay Capital Management LLC ADV raised its position in shares of AmerisourceBergen by 6,233.3% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 609,010 shares of the company’s stock valued at $7,469,000 after purchasing an additional 599,394 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of AmerisourceBergen by 4.6% in the 2nd quarter. BlackRock Inc. now owns 12,776,453 shares of the company’s stock valued at $1,089,447,000 after purchasing an additional 557,312 shares during the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. Royal Bank of Canada set a $90.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Mizuho reiterated a “neutral” rating on shares of AmerisourceBergen in a report on Wednesday, September 19th. ValuEngine upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $89.00 price target on shares of AmerisourceBergen in a report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $101.07.
In other news, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $90.92, for a total transaction of $1,941,142.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kathy H. Gaddes sold 2,652 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $87.71, for a total transaction of $232,606.92. Following the sale, the insider now directly owns 3,891 shares in the company, valued at approximately $341,279.61. The disclosure for this sale can be found here. Insiders have sold a total of 92,928 shares of company stock worth $8,332,406 in the last ninety days. Corporate insiders own 27.30% of the company’s stock.
Shares of NYSE:ABC opened at $88.86 on Friday. AmerisourceBergen Corp. has a twelve month low of $74.05 and a twelve month high of $106.27. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.51 and a current ratio of 0.93. The company has a market capitalization of $18.72 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.97.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.01. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. The company had revenue of $43.30 billion for the quarter, compared to the consensus estimate of $43.27 billion. During the same quarter in the prior year, the company earned $1.33 EPS. AmerisourceBergen’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that AmerisourceBergen Corp. will post 6.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be paid a dividend of $0.40 per share. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.80%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 23.42%.
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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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