Barclays PLC lifted its holdings in shares of AmerisourceBergen Co. (NYSE:ABC) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 284,722 shares of the company’s stock after acquiring an additional 16,437 shares during the period. Barclays PLC owned 0.14% of AmerisourceBergen worth $34,009,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Amundi acquired a new position in AmerisourceBergen during the second quarter worth approximately $68,882,000. JPMorgan Chase & Co. increased its position in AmerisourceBergen by 6.9% during the second quarter. JPMorgan Chase & Co. now owns 7,909,851 shares of the company’s stock worth $905,600,000 after buying an additional 512,869 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in AmerisourceBergen by 43.2% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,049,352 shares of the company’s stock worth $125,345,000 after buying an additional 316,377 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in shares of AmerisourceBergen in the 2nd quarter valued at approximately $31,510,000. Finally, Neuberger Berman Group LLC grew its stake in shares of AmerisourceBergen by 15.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,944,450 shares of the company’s stock valued at $222,590,000 after purchasing an additional 263,302 shares during the last quarter. 62.99% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Steven H. Collis sold 17,168 shares of the company’s stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $123.66, for a total value of $2,122,994.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven H. Collis sold 24,264 shares of the company’s stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $125.33, for a total value of $3,041,007.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,865 shares of company stock valued at $20,109,602. 28.40% of the stock is owned by company insiders.
AmerisourceBergen stock opened at $136.20 on Friday. The firm has a market capitalization of $28.35 billion, a P/E ratio of 18.43, a PEG ratio of 1.60 and a beta of 0.51. The stock has a fifty day moving average price of $126.11 and a 200 day moving average price of $122.38. AmerisourceBergen Co. has a 52 week low of $100.71 and a 52 week high of $136.95. The company has a current ratio of 0.94, a quick ratio of 0.57 and a debt-to-equity ratio of 10.92.
AmerisourceBergen (NYSE:ABC) last released its earnings results on Thursday, November 4th. The company reported $2.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.03. AmerisourceBergen had a return on equity of 2,040.08% and a net margin of 0.72%. The firm had revenue of $58.90 billion during the quarter, compared to analyst estimates of $57.05 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, equities analysts predict that AmerisourceBergen Co. will post 10.68 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 29th. Shareholders of record on Monday, November 15th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, November 12th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.44. AmerisourceBergen’s payout ratio is 24.90%.
Several research analysts have weighed in on ABC shares. Barclays lifted their target price on AmerisourceBergen from $135.00 to $152.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 11th. TheStreet upgraded AmerisourceBergen from a “d” rating to an “a-” rating in a research note on Thursday, November 4th. Scotiabank downgraded AmerisourceBergen from an “outperform” rating to a “sector perform” rating in a research note on Thursday, January 6th. Morgan Stanley lifted their price target on AmerisourceBergen from $141.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, December 17th. Finally, Credit Suisse Group lifted their price target on AmerisourceBergen from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, November 8th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $144.75.
AmerisourceBergen Corp. engages 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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