AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) EVP Peyton R. Howell sold 9,423 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $85.80, for a total transaction of $808,493.40. Following the transaction, the executive vice president now owns 57,412 shares in the company, valued at $4,925,949.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of AmerisourceBergen Corporation (NYSE ABC) traded up $2.47 during trading hours on Monday, hitting $87.42. 2,132,534 shares of the company were exchanged, compared to its average volume of 1,797,252. The firm has a market cap of $18,526.06, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.83. AmerisourceBergen Corporation has a 1-year low of $71.90 and a 1-year high of $97.85.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. The business had revenue of $39.12 billion for the quarter, compared to the consensus estimate of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. AmerisourceBergen’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. equities analysts anticipate that AmerisourceBergen Corporation will post 6.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 17th. AmerisourceBergen’s dividend payout ratio (DPR) is currently 82.16%.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in AmerisourceBergen by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock worth $1,479,701,000 after purchasing an additional 304,628 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AmerisourceBergen by 107.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock worth $434,385,000 after purchasing an additional 2,776,287 shares in the last quarter. Franklin Resources Inc. increased its stake in AmerisourceBergen by 23.1% during the 2nd quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock worth $368,884,000 after purchasing an additional 731,466 shares in the last quarter. Wells Fargo & Company MN increased its stake in AmerisourceBergen by 11.4% during the 3rd quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock worth $308,358,000 after purchasing an additional 381,936 shares in the last quarter. Finally, FIL Ltd increased its stake in AmerisourceBergen by 14.4% during the 2nd quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock worth $328,696,000 after purchasing an additional 437,132 shares in the last quarter. Institutional investors and hedge funds own 67.83% of the company’s stock.
A number of research firms have issued reports on ABC. Deutsche Bank began coverage on shares of AmerisourceBergen in a research report on Monday. They set a “buy” rating and a $97.00 target price on the stock. Robert W. Baird set a $99.00 target price on shares of AmerisourceBergen and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC upped their target price on shares of AmerisourceBergen from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, November 22nd. ValuEngine upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, Jefferies Group set a $85.00 target price on shares of AmerisourceBergen and gave the company a “hold” rating in a research report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $91.95.
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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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