AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) insider John G. Chou sold 15,937 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $82.42, for a total value of $1,313,527.54. Following the completion of the transaction, the insider now owns 67,226 shares of the company’s stock, valued at approximately $5,540,766.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
AmerisourceBergen Corporation (NYSE:ABC) traded up $0.13 during trading hours on Monday, hitting $84.95. The company’s stock had a trading volume of 3,188,500 shares, compared to its average volume of 1,795,807. AmerisourceBergen Corporation has a 1 year low of $71.90 and a 1 year high of $97.85. The stock has a market cap of $18,526.06, a PE ratio of 14.42, a P/E/G ratio of 1.47 and a beta of 1.00. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The firm had revenue of $39.12 billion for the quarter, compared to analysts’ expectations of $40.10 billion. During the same quarter last year, the firm posted $1.30 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. equities analysts expect that AmerisourceBergen Corporation will post 6.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.52 annualized dividend and a dividend yield of 1.79%. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio (DPR) is presently 82.16%.
Several brokerages have commented on ABC. Deutsche Bank began coverage on AmerisourceBergen in a research note on Monday. They issued a “buy” rating and a $97.00 target price for the company. Robert W. Baird set a $99.00 target price on AmerisourceBergen and gave the stock a “buy” rating in a research note on Friday. Needham & Company LLC raised their target price on AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. ValuEngine upgraded AmerisourceBergen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Jefferies Group set a $85.00 target price on AmerisourceBergen and gave the stock a “hold” rating in a research note on Sunday, October 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AmerisourceBergen has an average rating of “Buy” and a consensus target price of $91.95.
Several large investors have recently added to or reduced their stakes in ABC. Parallel Advisors LLC raised its holdings in shares of AmerisourceBergen by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after acquiring an additional 34 shares in the last quarter. Sun Life Financial INC raised its holdings in shares of AmerisourceBergen by 15,000.0% in the 2nd quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after acquiring an additional 1,200 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of AmerisourceBergen by 29.0% during the 2nd quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after buying an additional 375 shares in the last quarter. Intl Fcstone Inc. purchased a new position in shares of AmerisourceBergen during the 2nd quarter valued at about $201,000. Finally, Pinnacle Associates Ltd. purchased a new position in shares of AmerisourceBergen during the 2nd quarter valued at about $203,000. 67.83% of the stock is currently owned by hedge funds and other institutional investors.
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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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