Victory Capital Management Inc. lifted its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 5,677.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,426 shares of the company’s stock after purchasing an additional 476,041 shares during the quarter. Victory Capital Management Inc. owned 0.22% of AmerisourceBergen worth $44,674,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of ABC. First Mercantile Trust Co. acquired a new stake in shares of AmerisourceBergen during the 2nd quarter worth approximately $107,000. Financial Gravity Wealth Inc. grew its stake in shares of AmerisourceBergen by 93.2% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock worth $108,000 after purchasing an additional 605 shares during the period. Truvestments Capital LLC acquired a new stake in shares of AmerisourceBergen during the 3rd quarter worth approximately $120,000. Centaurus Financial Inc. acquired a new stake in shares of AmerisourceBergen during the 2nd quarter worth approximately $129,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of AmerisourceBergen during the 3rd quarter worth approximately $130,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $88.33, for a total value of $1,885,845.50. Following the sale, the chief executive officer now owns 287,925 shares of the company’s stock, valued at approximately $25,432,415.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathy H. Gaddes sold 2,652 shares of AmerisourceBergen stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $92.96, for a total transaction of $246,529.92. Following the completion of the sale, the executive vice president now directly owns 3,891 shares in the company, valued at approximately $361,707.36. The disclosure for this sale can be found here. Insiders sold a total of 92,928 shares of company stock worth $8,332,406 in the last three months. 27.30% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on ABC shares. Royal Bank of Canada set a $90.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a research note on Wednesday. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Mizuho reaffirmed a “hold” rating and set a $90.00 price objective on shares of AmerisourceBergen in a research note on Sunday, August 12th. Robert W. Baird reaffirmed a “hold” rating and set a $89.00 price objective on shares of AmerisourceBergen in a research note on Friday, August 3rd. Finally, Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $101.07.
AmerisourceBergen stock opened at $88.86 on Friday. AmerisourceBergen Corp. has a 1 year low of $74.05 and a 1 year high of $106.27. The firm has a market capitalization of $18.72 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.29 and a beta of 0.97. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.51 and a current ratio of 0.93.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. The firm had revenue of $43.30 billion for the quarter, compared to analysts’ expectations of $43.27 billion. During the same quarter last year, the company earned $1.33 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts forecast that AmerisourceBergen Corp. will post 6.82 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.80%. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.38. AmerisourceBergen’s dividend payout ratio (DPR) is currently 23.42%.
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AmerisourceBergen Company 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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