Golub Group LLC boosted its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,991 shares of the company’s stock after purchasing an additional 1,156 shares during the quarter. Golub Group LLC’s holdings in AmerisourceBergen were worth $1,811,000 at the end of the most recent quarter.
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Other large investors also recently added to or reduced their stakes in the company. BB&T Securities LLC raised its stake in AmerisourceBergen by 5.6% during the 2nd quarter. BB&T Securities LLC now owns 399,505 shares of the company’s stock valued at $34,061,000 after purchasing an additional 21,043 shares during the last quarter. Cambridge Financial Group Inc. raised its stake in AmerisourceBergen by 3.0% during the 2nd quarter. Cambridge Financial Group Inc. now owns 71,412 shares of the company’s stock valued at $6,089,000 after purchasing an additional 2,085 shares during the last quarter. ARP Americas LP raised its stake in AmerisourceBergen by 123.2% during the 2nd quarter. ARP Americas LP now owns 13,405 shares of the company’s stock valued at $1,143,000 after purchasing an additional 7,400 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in AmerisourceBergen by 33.9% during the 2nd quarter. AustralianSuper Pty Ltd now owns 250,926 shares of the company’s stock valued at $21,394,000 after purchasing an additional 63,478 shares during the last quarter. Finally, Occidental Asset Management LLC raised its stake in AmerisourceBergen by 35.5% during the 2nd quarter. Occidental Asset Management LLC now owns 7,969 shares of the company’s stock valued at $679,000 after purchasing an additional 2,086 shares during the last quarter. Hedge funds and other institutional investors own 65.99% of the company’s stock.
Shares of ABC stock traded up $1.99 during mid-day trading on Friday, reaching $86.07. The company’s stock had a trading volume of 976,127 shares, compared to its average volume of 1,377,801. AmerisourceBergen Corp. has a 1-year low of $69.36 and a 1-year high of $94.75. The company has a market cap of $18.10 billion, a P/E ratio of 13.26, a PEG ratio of 1.44 and a beta of 0.98. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. The firm’s 50-day moving average is $84.48 and its two-hundred day moving average is $83.73.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.03. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The company had revenue of $45.64 billion during the quarter, compared to analysts’ expectations of $45.15 billion. During the same quarter in the prior year, the company posted $1.45 EPS. The business’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that AmerisourceBergen Corp. will post 7.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, November 15th. AmerisourceBergen’s payout ratio is 24.65%.
In other news, CEO Steven H. Collis sold 19,905 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $86.08, for a total value of $1,713,422.40. Following the sale, the chief executive officer now owns 154,484 shares of the company’s stock, valued at approximately $13,297,982.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gina Clark sold 7,800 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $84.96, for a total transaction of $662,688.00. Following the completion of the sale, the executive vice president now directly owns 23,595 shares in the company, valued at approximately $2,004,631.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,509 shares of company stock worth $8,088,531. 27.80% of the stock is owned by insiders.
A number of equities analysts have recently issued reports on ABC shares. Deutsche Bank started coverage on shares of AmerisourceBergen in a research note on Thursday, September 12th. They issued a “hold” rating and a $91.00 price objective for the company. Morgan Stanley dropped their price objective on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. TheStreet cut shares of AmerisourceBergen from a “b” rating to a “c+” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of AmerisourceBergen from $95.00 to $91.00 and set a “neutral” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $87.78.
AmerisourceBergen Company Profile
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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