Victory Capital Management Inc. raised its stake in shares of AmerisourceBergen Co. (NYSE:ABC) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 489,489 shares of the company’s stock after purchasing an additional 92,729 shares during the period. Victory Capital Management Inc. owned 0.24% of AmerisourceBergen worth $58,469,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Bogart Wealth LLC increased its position in AmerisourceBergen by 63.6% during the third quarter. Bogart Wealth LLC now owns 229 shares of the company’s stock worth $27,000 after purchasing an additional 89 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in AmerisourceBergen during the second quarter worth approximately $32,000. Evermay Wealth Management LLC purchased a new stake in AmerisourceBergen during the second quarter worth approximately $40,000. AdvisorNet Financial Inc purchased a new stake in AmerisourceBergen during the third quarter worth approximately $48,000. Finally, Advisory Services Network LLC purchased a new stake in AmerisourceBergen during the second quarter worth approximately $55,000. 63.63% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on ABC. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AmerisourceBergen from $136.00 to $153.00 and gave the stock a “hold” rating in a research note on Friday, November 12th. Credit Suisse Group boosted their price objective on shares of AmerisourceBergen from $144.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, November 8th. Barclays boosted their price objective on shares of AmerisourceBergen from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, November 5th. Morgan Stanley boosted their price objective on shares of AmerisourceBergen from $141.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, December 17th. Finally, TheStreet upgraded shares of AmerisourceBergen from a “d” rating to an “a-” rating in a research note on Thursday, November 4th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $139.11.
In other AmerisourceBergen news, EVP Gina Clark sold 16,027 shares of the stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert P. Mauch sold 41,214 shares of the stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $125.34, for a total transaction of $5,165,762.76. The disclosure for this sale can be found here. Insiders have sold a total of 158,866 shares of company stock worth $19,714,704 over the last quarter. 28.40% of the stock is currently owned by insiders.
Shares of ABC stock opened at $129.53 on Monday. The company has a market capitalization of $26.96 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.06 and a beta of 0.48. The firm has a fifty day simple moving average of $122.96 and a 200-day simple moving average of $120.74. 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 Co. has a twelve month low of $94.89 and a twelve month high of $129.92.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, November 4th. The company reported $2.39 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $58.90 billion for the quarter, compared to the consensus estimate of $57.05 billion. During the same period in the prior year, the firm posted $1.89 EPS. The firm’s revenue was up 19.6% compared to the same quarter last year. Equities research analysts predict that AmerisourceBergen Co. will post 10.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 29th. Shareholders of record on Monday, November 15th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, November 12th. AmerisourceBergen’s dividend payout ratio is 24.90%.
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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