Huntington National Bank increased its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 15.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,581 shares of the company’s stock after acquiring an additional 3,810 shares during the quarter. Huntington National Bank’s holdings in AmerisourceBergen were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Motco bought a new stake in shares of AmerisourceBergen in the 2nd quarter worth approximately $26,000. Pathstone Family Office LLC grew its position in shares of AmerisourceBergen by 67.7% in the 2nd quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock worth $27,000 after buying an additional 126 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of AmerisourceBergen in the 3rd quarter worth approximately $27,000. Transamerica Financial Advisors Inc. bought a new stake in shares of AmerisourceBergen in the 2nd quarter worth approximately $38,000. Finally, Citizens Financial Group Inc RI grew its position in shares of AmerisourceBergen by 316.5% in the 2nd quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock worth $39,000 after buying an additional 345 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.
ABC has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, September 6th. ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Deutsche Bank initiated coverage on AmerisourceBergen in a research report on Thursday, September 12th. They issued a “hold” rating and a $91.00 price objective on the stock. Finally, TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $87.38.
In other news, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $86.89, for a total value of $1,729,545.45. Following the completion of the transaction, the chief executive officer now owns 154,484 shares in the company, valued at approximately $13,423,114.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John G. Chou sold 13,997 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $81.48, for a total value of $1,140,475.56. Following the completion of the transaction, the executive vice president now owns 65,782 shares of the company’s stock, valued at approximately $5,359,917.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,509 shares of company stock valued at $8,088,531. 27.80% of the stock is currently owned by company insiders.
Shares of ABC traded up $1.15 on Friday, reaching $85.23. The stock had a trading volume of 441,921 shares, compared to its average volume of 1,212,646. The firm has a market capitalization of $18.10 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. The company has a 50-day simple moving average of $84.47 and a 200-day simple moving average of $83.67. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $94.75.
AmerisourceBergen (NYSE:ABC) last released its earnings results on Thursday, November 7th. The company reported $1.61 EPS for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.03. The company had revenue of $45.64 billion during the quarter, compared to analysts’ expectations of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 EPS. On average, analysts expect that AmerisourceBergen Corp. will post 7.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.88%. AmerisourceBergen’s payout ratio is presently 24.65%.
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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