Lincoln Capital Corp raised its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,959 shares of the company’s stock after buying an additional 561 shares during the quarter. AmerisourceBergen comprises 1.5% of Lincoln Capital Corp’s investment portfolio, making the stock its 25th largest holding. Lincoln Capital Corp’s holdings in AmerisourceBergen were worth $1,726,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of ABC. Boltwood Capital Management grew its stake in AmerisourceBergen by 19.6% in the 2nd quarter. Boltwood Capital Management now owns 9,970 shares of the company’s stock valued at $850,000 after acquiring an additional 1,634 shares during the last quarter. Denali Advisors LLC grew its stake in AmerisourceBergen by 5.7% in the 2nd quarter. Denali Advisors LLC now owns 48,000 shares of the company’s stock valued at $4,092,000 after acquiring an additional 2,600 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in AmerisourceBergen by 19.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 9,471 shares of the company’s stock valued at $830,000 after acquiring an additional 1,526 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in AmerisourceBergen in the 2nd quarter valued at about $442,000. Finally, Crossmark Global Holdings Inc. grew its stake in AmerisourceBergen by 8.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 27,180 shares of the company’s stock valued at $2,317,000 after acquiring an additional 2,009 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.
In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $86.89, for a total transaction of $1,729,545.45. Following the sale, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at approximately $13,423,114.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gina Clark sold 7,800 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 in the company, valued at $2,004,631.20. The disclosure for this sale can be found here. Insiders have sold a total of 95,509 shares of company stock worth $8,088,531 over the last ninety days. 27.80% of the stock is owned by corporate insiders.
A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of AmerisourceBergen from $95.00 to $91.00 and set a “neutral” rating on the stock in a research note on Friday. Deutsche Bank assumed coverage on shares of AmerisourceBergen in a research note on Thursday, September 12th. They issued a “hold” rating and a $91.00 price objective on the stock. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. TheStreet cut shares of AmerisourceBergen from a “b” rating to a “c+” rating in a research note on Thursday. Finally, Morgan Stanley lowered their price objective on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. AmerisourceBergen currently has a consensus rating of “Hold” and a consensus target price of $87.78.
Shares of AmerisourceBergen stock traded up $1.99 during mid-day trading on Friday, hitting $86.07. 976,127 shares of the stock were exchanged, compared to its average volume of 1,377,801. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $94.75. The stock has a market capitalization of $18.10 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The company has a 50-day simple moving average of $84.48 and a 200 day simple moving average of $83.73. 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, November 7th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.03. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The company had revenue of $45.64 billion for the quarter, compared to analysts’ expectations of $45.15 billion. During the same period last year, the company earned $1.45 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts forecast that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.86%. AmerisourceBergen’s dividend payout ratio is currently 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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