MML Investors Services LLC raised its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,391 shares of the company’s stock after acquiring an additional 5,139 shares during the period. MML Investors Services LLC’s holdings in AmerisourceBergen were worth $5,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. BB&T Securities LLC raised its holdings in shares of AmerisourceBergen by 5.6% during the 2nd quarter. BB&T Securities LLC now owns 399,505 shares of the company’s stock worth $34,061,000 after acquiring an additional 21,043 shares in the last quarter. Cambridge Financial Group Inc. raised its holdings in shares of AmerisourceBergen by 3.0% during the 2nd quarter. Cambridge Financial Group Inc. now owns 71,412 shares of the company’s stock worth $6,089,000 after acquiring an additional 2,085 shares in the last quarter. Ceredex Value Advisors LLC raised its holdings in shares of AmerisourceBergen by 23.9% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock worth $169,787,000 after acquiring an additional 411,607 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of AmerisourceBergen by 60.2% during the 1st quarter. Nordea Investment Management AB now owns 75,977 shares of the company’s stock worth $6,041,000 after acquiring an additional 28,552 shares in the last quarter. Finally, ARP Americas LP raised its holdings in shares of AmerisourceBergen by 123.2% during the 2nd quarter. ARP Americas LP now owns 13,405 shares of the company’s stock worth $1,143,000 after acquiring an additional 7,400 shares in the last quarter. 66.10% of the stock is currently owned by institutional investors and hedge funds.
NYSE:ABC traded down $1.98 during midday trading on Thursday, hitting $85.81. 55,902 shares of the company traded hands, compared to its average volume of 1,415,700. The firm’s fifty day moving average is $86.21 and its 200-day moving average is $82.00. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $94.85. The firm has a market capitalization of $18.29 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.56 and a beta of 1.00. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company had revenue of $45.24 billion for the quarter, compared to analyst estimates of $45.15 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. AmerisourceBergen’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts expect that AmerisourceBergen Corp. will post 7.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 16th. This represents a $1.60 annualized dividend and a yield of 1.86%. AmerisourceBergen’s payout ratio is presently 24.65%.
In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.58, for a total value of $1,783,089.90. Following the sale, the chief executive officer now owns 154,484 shares in the company, valued at $13,838,676.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 107,826 shares of the stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total value of $9,292,444.68. Following the completion of the sale, the chairman now owns 242,405 shares in the company, valued at approximately $20,890,462.90. The disclosure for this sale can be found here. Insiders have sold a total of 186,215 shares of company stock worth $16,240,235 in the last 90 days. 27.80% of the stock is currently owned by insiders.
Several analysts have recently issued reports on the company. Deutsche Bank assumed coverage on AmerisourceBergen in a report on Thursday. They set a “hold” rating and a $91.00 price objective on the stock. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Morgan Stanley decreased their price objective on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, September 6th. Argus decreased their price target on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Finally, ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $87.38.
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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