Aviva PLC reduced its holdings in shares of AmerisourceBergen Co. (NYSE:ABC) by 46.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,217 shares of the company’s stock after selling 21,894 shares during the quarter. Aviva PLC’s holdings in AmerisourceBergen were worth $3,012,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bogart Wealth LLC grew its holdings in shares of AmerisourceBergen by 63.6% during the third quarter. Bogart Wealth LLC now owns 229 shares of the company’s stock valued at $27,000 after buying an additional 89 shares during the last quarter. Evermay Wealth Management LLC acquired a new position in shares of AmerisourceBergen during the second quarter valued at about $40,000. Allworth Financial LP acquired a new position in shares of AmerisourceBergen during the third quarter valued at about $47,000. AdvisorNet Financial Inc acquired a new position in shares of AmerisourceBergen during the third quarter valued at about $48,000. Finally, Banque Cantonale Vaudoise grew its holdings in shares of AmerisourceBergen by 54.0% during the third quarter. Banque Cantonale Vaudoise now owns 425 shares of the company’s stock valued at $51,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 62.99% of the company’s stock.
ABC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AmerisourceBergen from $136.00 to $153.00 and gave the stock a “hold” rating in a report on Friday, November 12th. Scotiabank cut shares of AmerisourceBergen from an “outperform” rating to a “sector perform” rating in a report on Thursday, January 6th. Credit Suisse Group boosted their price target on shares of AmerisourceBergen from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, November 8th. Morgan Stanley boosted their price target on shares of AmerisourceBergen from $141.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, December 17th. Finally, Barclays boosted their price target on shares of AmerisourceBergen from $135.00 to $152.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, AmerisourceBergen presently has an average rating of “Buy” and an average price target of $145.43.
In related news, EVP Gina Clark sold 16,027 shares of the company’s stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $125.83, for a total transaction of $2,016,677.41. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven H. Collis sold 24,264 shares of the company’s stock in a transaction that occurred on Tuesday, November 9th. The stock was sold at an average price of $125.33, for a total transaction of $3,041,007.12. The disclosure for this sale can be found here. In the last three months, insiders sold 158,865 shares of company stock worth $20,109,602. Insiders own 28.40% of the company’s stock.
ABC opened at $134.69 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.94 and a debt-to-equity ratio of 10.92. The stock has a market cap of $28.03 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.57 and a beta of 0.51. AmerisourceBergen Co. has a twelve month low of $100.71 and a twelve month high of $136.95. The company’s 50-day moving average price is $127.50 and its two-hundred day moving average price is $123.46.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, November 4th. The company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.03. AmerisourceBergen had a net margin of 0.72% and a return on equity of 2,040.08%. The company had revenue of $58.90 billion for the quarter, compared to analyst estimates of $57.05 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that AmerisourceBergen Co. will post 10.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 29th. Stockholders of record on Monday, November 15th were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, November 12th. This represents a $1.84 annualized dividend and a dividend yield of 1.37%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.44. AmerisourceBergen’s payout ratio is 24.90%.
AmerisourceBergen Company Profile
AmerisourceBergen Corp. engages in the provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, and long-term care and alternate site pharmacies.
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