Arizona State Retirement System cut its position in AmerisourceBergen Corp. (NYSE:ABC) by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,994 shares of the company’s stock after selling 2,229 shares during the quarter. Arizona State Retirement System’s holdings in AmerisourceBergen were worth $2,385,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of ABC. Martingale Asset Management L P increased its holdings in shares of AmerisourceBergen by 210.6% in the 3rd quarter. Martingale Asset Management L P now owns 18,226 shares of the company’s stock worth $1,681,000 after acquiring an additional 12,358 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of AmerisourceBergen by 9.1% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,092,988 shares of the company’s stock worth $100,795,000 after acquiring an additional 91,364 shares during the period. Legal & General Group Plc increased its holdings in shares of AmerisourceBergen by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 862,025 shares of the company’s stock worth $79,496,000 after acquiring an additional 10,077 shares during the period. Vanguard Group Inc increased its holdings in shares of AmerisourceBergen by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 16,019,657 shares of the company’s stock worth $1,477,332,000 after acquiring an additional 63,935 shares during the period. Finally, Addenda Capital Inc. acquired a new stake in shares of AmerisourceBergen in the 4th quarter worth about $2,715,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.
In other news, EVP Dale Danilewitz sold 543 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $71.20, for a total transaction of $38,661.60. Following the completion of the transaction, the executive vice president now owns 1,628 shares in the company, valued at approximately $115,913.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John G. Chou sold 6,974 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $86.70, for a total transaction of $604,645.80. Following the transaction, the executive vice president now owns 58,759 shares of the company’s stock, valued at approximately $5,094,405.30. The disclosure for this sale can be found here. In the last three months, insiders have acquired 2,018 shares of company stock worth $156,471 and have sold 66,982 shares worth $5,565,339. 27.80% of the stock is currently owned by company insiders.
AmerisourceBergen stock opened at $77.47 on Friday. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.54 and a beta of 1.07. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.56 and a current ratio of 0.95. AmerisourceBergen Corp. has a 52 week low of $69.36 and a 52 week high of $94.88.
AmerisourceBergen (NYSE:ABC) last released its earnings results on Thursday, May 2nd. The company reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.15. The firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $43.44 billion. AmerisourceBergen had a net margin of 0.53% and a return on equity of 46.24%. AmerisourceBergen’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.94 EPS. As a group, research analysts forecast that AmerisourceBergen Corp. will post 6.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 17th. This represents a $1.60 annualized dividend and a yield of 2.07%. AmerisourceBergen’s payout ratio is 24.65%.
A number of analysts recently weighed in on the stock. ValuEngine raised shares of AmerisourceBergen from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Guggenheim initiated coverage on shares of AmerisourceBergen in a report on Thursday, April 11th. They issued a “buy” rating on the stock. Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. TheStreet cut shares of AmerisourceBergen from a “b” rating to a “c+” rating in a research note on Tuesday, March 19th. Finally, Wolfe Research initiated coverage on shares of AmerisourceBergen in a research note on Tuesday, April 2nd. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $86.57.
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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