Marshall Wace LLP increased its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 633.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 277,386 shares of the company’s stock after purchasing an additional 239,591 shares during the period. Marshall Wace LLP owned 0.13% of AmerisourceBergen worth $25,581,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ABC. Migdal Insurance & Financial Holdings Ltd. increased its position in 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 during the last quarter. Financial Gravity Wealth Inc. increased its position in 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 during the last quarter. Truvestments Capital LLC acquired a new stake in AmerisourceBergen during the third quarter worth about $120,000. Centaurus Financial Inc. acquired a new stake in AmerisourceBergen during the second quarter worth about $129,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in AmerisourceBergen during the third quarter worth about $130,000. Hedge funds and other institutional investors own 64.58% of the company’s stock.
Shares of ABC stock opened at $84.32 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.93 and a debt-to-equity ratio of 1.48. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 1.37 and a beta of 0.94. AmerisourceBergen Corp. has a 1-year low of $77.28 and a 1-year high of $106.27.
AmerisourceBergen (NYSE:ABC) last announced its 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 during the quarter, compared to analyst estimates of $43.27 billion. During the same quarter last year, the firm posted $1.33 earnings per share. AmerisourceBergen’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that AmerisourceBergen Corp. will post 6.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 19th were paid a $0.40 dividend. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, November 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.90%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 24.65%.
In other news, EVP Kathy H. Gaddes sold 2,652 shares of the firm’s 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 transaction, the executive vice president now owns 3,891 shares of the company’s stock, valued at $349,372.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John G. Chou sold 6,974 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $86.19, for a total transaction of $601,089.06. Following the completion of the transaction, the insider now directly owns 56,125 shares of the company’s stock, valued at approximately $4,837,413.75. The disclosure for this sale can be found here. In the last three months, insiders sold 142,753 shares of company stock valued at $12,826,784. Insiders own 27.30% of the company’s stock.
Several research firms recently issued reports on ABC. Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Mizuho reaffirmed a “neutral” rating on shares of AmerisourceBergen in a research note on Wednesday, September 19th. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Royal Bank of Canada lowered their target price on shares of AmerisourceBergen from $90.00 to $87.00 and set a “hold” rating for the company in a research note on Friday, November 30th. Finally, Morgan Stanley increased their target price on shares of AmerisourceBergen from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Monday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $101.36.
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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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