Riverhead Capital Management LLC boosted its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,277 shares of the company’s stock after acquiring an additional 2,350 shares during the period. Riverhead Capital Management LLC’s holdings in AmerisourceBergen were worth $3,345,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Piedmont Investment Advisors LLC purchased a new stake in shares of AmerisourceBergen during the second quarter worth about $157,000. Kornitzer Capital Management Inc. KS grew its holdings in shares of AmerisourceBergen by 35.6% during the second quarter. Kornitzer Capital Management Inc. KS now owns 19,506 shares of the company’s stock worth $1,663,000 after buying an additional 5,121 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of AmerisourceBergen by 9.2% during the second quarter. Alps Advisors Inc. now owns 15,377 shares of the company’s stock worth $1,311,000 after buying an additional 1,297 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of AmerisourceBergen during the second quarter worth about $248,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of AmerisourceBergen during the second quarter worth about $1,452,000. Institutional investors own 64.58% of the company’s stock.
AmerisourceBergen stock opened at $84.32 on Friday. AmerisourceBergen Corp. has a 1 year low of $77.28 and a 1 year high of $106.27. The company has a market capitalization of $18.22 billion, a P/E ratio of 12.99, a P/E/G ratio of 1.37 and a beta of 0.94. The company has a quick ratio of 0.50, a current ratio of 0.93 and a debt-to-equity ratio of 1.48.
AmerisourceBergen (NYSE:ABC) last released its 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 during the quarter, compared to the consensus estimate of $43.27 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. AmerisourceBergen’s revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that AmerisourceBergen Corp. will post 6.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 19th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.90%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, November 16th. AmerisourceBergen’s payout ratio is presently 24.65%.
In other AmerisourceBergen news, insider Lazarus Krikorian sold 20,276 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $90.37, for a total transaction of $1,832,342.12. Following the completion of the sale, the insider now directly owns 28,419 shares in the company, valued at $2,568,225.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 21,350 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $88.92, for a total transaction of $1,898,442.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,753 shares of company stock valued at $12,826,784. 27.30% of the stock is owned by insiders.
A number of equities research analysts have recently commented on ABC shares. Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Royal Bank of Canada set a $90.00 price target on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Wednesday, November 7th. ValuEngine upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Mizuho reiterated a “hold” rating and set a $90.00 price target on shares of AmerisourceBergen in a report on Sunday, August 12th. Finally, Morgan Stanley boosted their target price on shares of AmerisourceBergen from $88.00 to $91.00 and gave the company an “equal weight” rating in a report on Monday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average 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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