Keybank National Association OH lessened its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 23.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,169 shares of the company’s stock after selling 2,232 shares during the period. Keybank National Association OH’s holdings in AmerisourceBergen were worth $611,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. HL Financial Services LLC raised its stake in shares of AmerisourceBergen by 6.3% during the 1st quarter. HL Financial Services LLC now owns 5,561 shares of the company’s stock worth $442,000 after acquiring an additional 328 shares in the last quarter. Cambridge Financial Group Inc. raised its stake in shares of AmerisourceBergen by 3.0% during the 2nd quarter. Cambridge Financial Group Inc. now owns 71,412 shares of the company’s stock worth $6,089,000 after acquiring an additional 2,085 shares in the last quarter. Ceredex Value Advisors LLC raised its stake in shares of AmerisourceBergen by 23.9% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock worth $169,787,000 after acquiring an additional 411,607 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of AmerisourceBergen by 60.2% during the 1st quarter. Nordea Investment Management AB now owns 75,977 shares of the company’s stock worth $6,041,000 after acquiring an additional 28,552 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of AmerisourceBergen by 1.6% during the 1st quarter. New York State Common Retirement Fund now owns 364,977 shares of the company’s stock worth $29,023,000 after acquiring an additional 5,700 shares in the last quarter. 65.03% of the stock is owned by hedge funds and other institutional investors.
Shares of AmerisourceBergen stock opened at $86.81 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $94.85. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.56 and a beta of 0.97. The firm’s 50 day simple moving average is $87.59 and its two-hundred day simple moving average is $82.10.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The business had revenue of $45.24 billion for the quarter, compared to analyst estimates of $45.15 billion. During the same quarter in the prior year, the business posted $1.54 EPS. AmerisourceBergen’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that AmerisourceBergen Corp. will post 7.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.84%. AmerisourceBergen’s payout ratio is 24.65%.
In other AmerisourceBergen news, insider Dale Danilewitz sold 543 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $81.16, for a total transaction of $44,069.88. Following the transaction, the insider now owns 1,085 shares in the company, valued at approximately $88,058.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Chou sold 13,997 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.58, for a total transaction of $1,253,851.26. Following the transaction, the insider now owns 65,782 shares in the company, valued at approximately $5,892,751.56. The disclosure for this sale can be found here. Insiders have sold a total of 185,879 shares of company stock worth $16,058,395 in the last 90 days. 27.80% of the stock is currently owned by company insiders.
ABC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Wednesday, June 12th. Argus reduced their price objective on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. TheStreet upgraded shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Finally, ValuEngine lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $88.00.
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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