Whitnell & Co. lifted its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 575.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,795 shares of the company’s stock after acquiring an additional 19,420 shares during the period. Whitnell & Co.’s holdings in AmerisourceBergen were worth $1,877,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in ABC. Motco bought a new stake in AmerisourceBergen during the second quarter worth about $26,000. Pathstone Family Office LLC lifted its position in AmerisourceBergen by 67.7% during the second quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock worth $27,000 after purchasing an additional 126 shares during the period. Northwest Investment Counselors LLC bought a new stake in AmerisourceBergen during the third quarter worth about $27,000. Transamerica Financial Advisors Inc. bought a new stake in AmerisourceBergen during the second quarter worth about $38,000. Finally, Citizens Financial Group Inc RI lifted its position in AmerisourceBergen by 316.5% during the second quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock worth $39,000 after purchasing an additional 345 shares during the period. Institutional investors and hedge funds own 65.99% of the company’s stock.
Several equities research analysts recently weighed in on ABC shares. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Deutsche Bank started coverage on shares of AmerisourceBergen in a report on Thursday, September 12th. They issued a “hold” rating and a $91.00 target price for the company. TheStreet cut shares of AmerisourceBergen from a “b” rating to a “c+” rating in a report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of AmerisourceBergen from $95.00 to $91.00 and set a “neutral” rating for the company in a report on Friday. Finally, Morgan Stanley dropped their target price on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $87.78.
Shares of AmerisourceBergen stock traded up $1.99 on Friday, hitting $86.07. The stock had a trading volume of 976,127 shares, compared to its average volume of 1,377,801. The stock has a 50 day moving average of $84.48 and a 200 day moving average of $83.73. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $94.75. 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 firm has a market capitalization of $18.10 billion, a P/E ratio of 13.26, a PEG ratio of 1.44 and a beta of 0.98.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.03. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company had revenue of $45.64 billion during the quarter, compared to the consensus estimate of $45.15 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that AmerisourceBergen Corp. will post 7.05 earnings per share for the current year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, November 15th. AmerisourceBergen’s dividend payout ratio is currently 24.65%.
In other AmerisourceBergen news, EVP John G. Chou sold 13,997 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $86.29, for a total transaction of $1,207,801.13. Following the completion of the sale, the executive vice president now owns 65,782 shares of the company’s stock, valued at approximately $5,676,328.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina Clark sold 7,800 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $84.96, for a total transaction of $662,688.00. Following the sale, the executive vice president now directly owns 23,595 shares of the company’s stock, valued at approximately $2,004,631.20. The disclosure for this sale can be found here. Insiders sold 95,509 shares of company stock valued at $8,088,531 in the last ninety days. 27.80% of the stock is currently owned by insiders.
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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