Alliancebernstein L.P. grew its position in AmerisourceBergen Corp. (NYSE:ABC) by 37.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 474,026 shares of the company’s stock after acquiring an additional 130,108 shares during the period. Alliancebernstein L.P. owned about 0.22% of AmerisourceBergen worth $43,715,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of ABC. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of AmerisourceBergen by 140.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock worth $105,000 after purchasing an additional 668 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in shares of AmerisourceBergen during the second quarter worth about $107,000. Financial Gravity Wealth Inc. increased its stake in shares of AmerisourceBergen by 93.2% during the third quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock worth $108,000 after purchasing an additional 605 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of AmerisourceBergen during the third quarter worth about $120,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of AmerisourceBergen during the second quarter worth about $129,000. Institutional investors and hedge funds own 64.73% of the company’s stock.
In other news, EVP Kathy H. Gaddes sold 2,652 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $89.79, for a total value of $238,123.08. Following the completion of the sale, the executive vice president now owns 3,891 shares of the company’s stock, valued at approximately $349,372.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven H. Collis sold 21,350 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $88.33, for a total transaction of $1,885,845.50. Following the completion of the sale, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at approximately $25,432,415.25. The disclosure for this sale can be found here. In the last three months, insiders sold 142,753 shares of company stock valued at $12,814,187. Corporate insiders own 27.30% of the company’s stock.
Shares of NYSE ABC opened at $90.50 on Friday. AmerisourceBergen Corp. has a 12-month low of $77.28 and a 12-month high of $106.27. The stock has a market cap of $19.39 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.93 and a quick ratio of 0.50.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $43.27 billion. During the same quarter in the prior year, the company earned $1.33 EPS. AmerisourceBergen’s revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts forecast that AmerisourceBergen Corp. will post 6.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be paid a $0.40 dividend. 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 annualized dividend and a dividend yield of 1.77%. AmerisourceBergen’s dividend payout ratio is 24.65%.
A number of analysts have recently commented on the stock. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Zacks Investment Research raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Mizuho reaffirmed a “neutral” rating on shares of AmerisourceBergen in a research note on Wednesday, September 19th. 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, Royal Bank of Canada set a $90.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a research note on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $101.07.
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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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