Meeder Asset Management Inc. decreased its holdings in shares of AmerisourceBergen Co. (NYSE:ABC) by 8.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,290 shares of the company’s stock after selling 113 shares during the quarter. Meeder Asset Management Inc.’s holdings in AmerisourceBergen were worth $154,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bogart Wealth LLC grew its stake 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. Banque Cantonale Vaudoise bought a new position in shares of AmerisourceBergen during the second quarter valued at approximately $32,000. Evermay Wealth Management LLC bought a new position in shares of AmerisourceBergen during the second quarter valued at approximately $40,000. Allworth Financial LP bought a new position in shares of AmerisourceBergen during the third quarter valued at approximately $47,000. Finally, AdvisorNet Financial Inc bought a new position in shares of AmerisourceBergen during the third quarter valued at approximately $48,000. 63.63% of the stock is currently owned by hedge funds and other institutional investors.
AmerisourceBergen stock opened at $134.64 on Tuesday. The business has a fifty day moving average of $125.16 and a two-hundred day moving average of $121.77. 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 firm has a market cap of $28.02 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.53 and a beta of 0.51. AmerisourceBergen Co. has a twelve month low of $100.71 and a twelve month high of $135.26.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, November 4th. The company reported $2.39 EPS for the quarter, beating the 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 quarter in the prior year, the business posted $1.89 EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities analysts expect that AmerisourceBergen Co. will post 10.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 29th. Stockholders of record on Monday, November 15th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, November 12th. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.44. AmerisourceBergen’s dividend payout ratio is currently 24.90%.
In other news, CEO Steven H. Collis sold 11,664 shares of the stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $124.66, for a total transaction of $1,454,034.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert P. Mauch sold 41,214 shares of the stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $125.34, for a total value of $5,165,762.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,601 shares of company stock valued at $16,807,999. Company insiders own 28.40% of the company’s stock.
A number of brokerages recently issued reports on ABC. Scotiabank lowered AmerisourceBergen from an “outperform” rating to a “sector perform” rating in a report on Thursday, January 6th. TheStreet upgraded AmerisourceBergen from a “d” rating to an “a-” rating in a report on Thursday, November 4th. Credit Suisse Group boosted their price target on AmerisourceBergen from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, November 8th. Deutsche Bank Aktiengesellschaft boosted their price target on AmerisourceBergen from $136.00 to $153.00 and gave the company a “hold” rating in a report on Friday, November 12th. Finally, Morgan Stanley boosted their price target on AmerisourceBergen from $141.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, December 17th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $142.63.
AmerisourceBergen Company Profile
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.
Further Reading: Golden Cross
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