Whitnell & Co. increased its position in AmerisourceBergen Corp. (NYSE:ABC) by 575.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 22,795 shares of the company’s stock after purchasing 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.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ABC. Motco purchased a new stake in AmerisourceBergen in the 2nd quarter worth about $26,000. Pathstone Family Office LLC increased its holdings in 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 acquiring an additional 126 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in AmerisourceBergen in the 3rd quarter worth about $27,000. Transamerica Financial Advisors Inc. purchased a new position in AmerisourceBergen during the 2nd quarter valued at about $38,000. Finally, Citizens Financial Group Inc RI grew its holdings in AmerisourceBergen by 316.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. 65.99% of the stock is owned by institutional investors.
ABC has been the subject of a number of recent analyst reports. ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Deutsche Bank initiated coverage on AmerisourceBergen in a report on Thursday, September 12th. They set a “hold” rating and a $91.00 target price for the company. Morgan Stanley reduced their target price on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. JPMorgan Chase & Co. reduced their target price on AmerisourceBergen from $95.00 to $91.00 and set a “neutral” rating for the company in a report on Friday. Finally, TheStreet lowered AmerisourceBergen from a “b” rating to a “c+” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. AmerisourceBergen currently has a consensus rating of “Hold” and a consensus price target of $87.78.
In other news, EVP Gina Clark sold 7,800 shares of AmerisourceBergen 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 completion of the sale, the executive vice president now owns 23,595 shares in the company, valued at approximately $2,004,631.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $86.89, for a total value of $1,729,545.45. Following the sale, the chief executive officer now owns 154,484 shares of the company’s stock, valued at approximately $13,423,114.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,509 shares of company stock valued at $8,088,531. Corporate insiders own 27.80% of the company’s stock.
Shares of ABC traded up $1.99 during trading hours on Friday, reaching $86.07. 976,127 shares of the company’s stock traded hands, compared to its average volume of 1,377,801. The stock has a market cap of $18.10 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The firm’s 50 day simple moving average is $84.48 and its 200-day simple moving average is $83.73. AmerisourceBergen Corp. has a 12 month low of $69.36 and a 12 month high of $94.75.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.03. The firm had revenue of $45.64 billion during the quarter, compared to the consensus estimate of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $1.45 EPS. As a group, analysts expect that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.86%. AmerisourceBergen’s dividend payout ratio (DPR) 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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