Strs Ohio trimmed its position in AmerisourceBergen Corp. (NYSE:ABC) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,596 shares of the company’s stock after selling 488 shares during the quarter. Strs Ohio’s holdings in AmerisourceBergen were worth $490,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. raised its stake in AmerisourceBergen by 140.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock worth $105,000 after acquiring an additional 668 shares in the last quarter. Financial Gravity Wealth Inc. grew its holdings in shares of AmerisourceBergen by 93.2% during the third quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock worth $108,000 after purchasing an additional 605 shares during the last quarter. Ipswich Investment Management Co. Inc. bought a new stake in shares of AmerisourceBergen during the fourth quarter worth $96,000. Truvestments Capital LLC bought a new stake in shares of AmerisourceBergen during the third quarter worth $120,000. Finally, Girard Partners LTD. bought a new stake in shares of AmerisourceBergen during the third quarter worth $175,000. Institutional investors and hedge funds own 68.51% of the company’s stock.
AmerisourceBergen stock opened at $83.64 on Tuesday. The stock has a market capitalization of $17.66 billion, a P/E ratio of 12.89, a PEG ratio of 1.55 and a beta of 1.12. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $102.00. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, January 31st. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.10. The business had revenue of $45.39 billion for the quarter, compared to analysts’ expectations of $43.52 billion. AmerisourceBergen had a return on equity of 44.53% and a net margin of 0.69%. As a group, equities analysts predict that AmerisourceBergen Corp. will post 6.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Tuesday, February 19th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, February 15th. AmerisourceBergen’s dividend payout ratio is 24.65%.
In related news, insider John G. Chou sold 6,974 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $88.51, for a total value of $617,268.74. Following the transaction, the insider now owns 58,426 shares in the company, valued at $5,171,285.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dale Danilewitz sold 5,703 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $86.80, for a total value of $495,020.40. Following the completion of the transaction, the insider now owns 8,960 shares in the company, valued at approximately $777,728. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,152 shares of company stock worth $12,095,954. 27.80% of the stock is owned by company insiders.
Several analysts have recently commented on ABC shares. UBS Group started coverage on AmerisourceBergen in a report on Thursday, January 17th. They set a “buy” rating and a $89.00 target price on the stock. TheStreet cut AmerisourceBergen from a “b-” rating to a “c+” rating in a report on Tuesday, January 8th. Morgan Stanley increased their target price on AmerisourceBergen from $88.00 to $91.00 and gave the stock an “equal weight” rating in a report on Monday, December 3rd. Zacks Investment Research upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Finally, Royal Bank of Canada set a $90.00 price target on AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, November 7th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $96.00.
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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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