AMP Capital Investors Ltd decreased its position in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,320 shares of the company’s stock after selling 1,638 shares during the period. AMP Capital Investors Ltd owned approximately 0.06% of AmerisourceBergen worth $10,535,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of AmerisourceBergen by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after purchasing an additional 34 shares during the period. Sun Life Financial INC boosted its stake in shares of AmerisourceBergen by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after purchasing an additional 1,200 shares during the period. D.A. Davidson & CO. boosted its stake in shares of AmerisourceBergen by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after purchasing an additional 375 shares during the period. Intl Fcstone Inc. purchased a new stake in shares of AmerisourceBergen during the second quarter valued at $201,000. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of AmerisourceBergen during the second quarter valued at $203,000. Institutional investors and hedge funds own 67.94% of the company’s stock.
In other news, insider Peyton R. Howell sold 3,243 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $80.23, for a total transaction of $260,185.89. Following the transaction, the insider now owns 37,135 shares in the company, valued at $2,979,341.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $79.47, for a total transaction of $921,852.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,407 shares of company stock valued at $13,569,358. Insiders own 27.40% of the company’s stock.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The business had revenue of $39.12 billion during the quarter, compared to analyst estimates of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 earnings per share. analysts anticipate that AmerisourceBergen Corporation will post 6.07 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Monday, November 20th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.75%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 17th. AmerisourceBergen’s dividend payout ratio is presently 82.16%.
A number of brokerages have recently issued reports on ABC. Needham & Company LLC boosted their target price on shares of AmerisourceBergen from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Royal Bank of Canada began coverage on shares of AmerisourceBergen in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $87.00 price objective for the company. Morgan Stanley lowered shares of AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a research note on Thursday, September 14th. Zacks Investment Research raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Jefferies Group set a $95.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a research note on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $91.95.
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AmerisourceBergen Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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