CIBC World Markets Inc. raised its position in AmerisourceBergen Corp. (NYSE:ABC) by 11.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,234 shares of the company’s stock after acquiring an additional 4,902 shares during the quarter. CIBC World Markets Inc.’s holdings in AmerisourceBergen were worth $4,113,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of ABC. Daiwa Securities Group Inc. lifted its position in shares of AmerisourceBergen by 33.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,542 shares of the company’s stock valued at $564,000 after acquiring an additional 1,651 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its position in shares of AmerisourceBergen by 680.9% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 60,636 shares of the company’s stock valued at $5,139,000 after acquiring an additional 52,871 shares in the last quarter. River Wealth Advisors LLC lifted its position in shares of AmerisourceBergen by 1.6% in the 1st quarter. River Wealth Advisors LLC now owns 34,764 shares of the company’s stock valued at $2,997,000 after acquiring an additional 561 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of AmerisourceBergen in the 1st quarter valued at approximately $32,267,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of AmerisourceBergen in the 1st quarter valued at approximately $338,000. 69.66% of the stock is currently owned by institutional investors.
In other news, EVP Dale Danilewitz sold 3,121 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $82.50, for a total transaction of $257,482.50. Following the transaction, the executive vice president now owns 3,121 shares in the company, valued at approximately $257,482.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $80.83, for a total transaction of $937,628.00. Following the transaction, the chief financial officer now owns 51,189 shares in the company, valued at approximately $4,137,606.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,656 shares of company stock worth $9,132,116. 27.30% of the stock is currently owned by company insiders.
Several equities research analysts recently commented on the stock. ValuEngine upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Saturday, June 16th. Morgan Stanley reduced their price target on shares of AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 3rd. Robert W. Baird lowered shares of AmerisourceBergen from an “outperform” rating to a “neutral” rating in a research note on Friday, July 20th. Finally, Mizuho reiterated a “hold” rating and issued a $90.00 price objective on shares of AmerisourceBergen in a research note on Sunday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $101.80.
AmerisourceBergen stock opened at $88.27 on Tuesday. The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.37 and a beta of 1.00. The company has a current ratio of 0.94, a quick ratio of 0.51 and a debt-to-equity ratio of 1.39. AmerisourceBergen Corp. has a twelve month low of $71.90 and a twelve month high of $106.27.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, August 2nd. The company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.08. The firm had revenue of $43.14 billion for the quarter, compared to analyst estimates of $43.05 billion. AmerisourceBergen had a net margin of 0.69% and a return on equity of 48.65%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. equities research analysts forecast that AmerisourceBergen Corp. will post 6.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Monday, August 20th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, August 17th. This represents a $1.52 annualized dividend and a dividend yield of 1.72%. AmerisourceBergen’s dividend payout ratio (DPR) is 25.85%.
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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