Cadence Bank NA acquired a new stake in shares of AmerisourceBergen Corp. (NYSE:ABC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,525 shares of the company’s stock, valued at approximately $233,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in AmerisourceBergen by 4.6% during the second quarter. BlackRock Inc. now owns 12,776,453 shares of the company’s stock worth $1,089,447,000 after purchasing an additional 557,312 shares during the period. Vulcan Value Partners LLC increased its position in shares of AmerisourceBergen by 1.7% in the second quarter. Vulcan Value Partners LLC now owns 4,988,485 shares of the company’s stock worth $425,368,000 after acquiring an additional 82,224 shares in the last quarter. FMR LLC increased its position in shares of AmerisourceBergen by 8.2% in the second quarter. FMR LLC now owns 4,460,016 shares of the company’s stock worth $380,305,000 after acquiring an additional 338,690 shares in the last quarter. Burgundy Asset Management Ltd. increased its position in shares of AmerisourceBergen by 1.0% in the second quarter. Burgundy Asset Management Ltd. now owns 2,742,554 shares of the company’s stock worth $233,858,000 after acquiring an additional 26,297 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its position in shares of AmerisourceBergen by 16.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,287,719 shares of the company’s stock worth $148,412,000 after acquiring an additional 327,552 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.
ABC has been the subject of several recent research reports. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Mizuho reissued a “neutral” rating on shares of AmerisourceBergen in a research report on Wednesday, September 19th. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Robert W. Baird lowered shares of AmerisourceBergen from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Finally, Royal Bank of Canada set a $90.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $101.07.
In related news, CEO Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $88.33, for a total transaction of $1,885,845.50. Following the completion of the sale, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at approximately $25,432,415.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kathy H. Gaddes sold 2,652 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $87.71, for a total transaction of $232,606.92. Following the sale, the insider now directly owns 3,891 shares of the company’s stock, valued at $341,279.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,928 shares of company stock valued at $8,332,406. Company insiders own 27.30% of the company’s stock.
ABC opened at $88.86 on Friday. The firm has a market cap of $18.72 billion, a P/E ratio of 13.35, a PEG ratio of 1.29 and a beta of 0.97. AmerisourceBergen Corp. has a twelve month low of $74.05 and a twelve month high of $106.27. The company has a quick ratio of 0.51, a current ratio of 0.93 and a debt-to-equity ratio of 1.36.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.01. The business had revenue of $43.30 billion during the quarter, compared to analyst estimates of $43.27 billion. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $1.33 EPS. Equities analysts forecast that AmerisourceBergen Corp. will post 6.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.80%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 16th. AmerisourceBergen’s dividend payout ratio (DPR) is presently 23.42%.
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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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