New York State Common Retirement Fund cut its holdings in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,987 shares of the company’s stock after selling 18,617 shares during the quarter. New York State Common Retirement Fund owned approximately 0.17% of AmerisourceBergen worth $29,954,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Municipal Employees Retirement System of Michigan raised its holdings in shares of AmerisourceBergen by 49.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,060 shares of the company’s stock valued at $762,000 after purchasing an additional 2,670 shares during the period. TD Asset Management Inc. raised its holdings in shares of AmerisourceBergen by 7.7% in the 2nd quarter. TD Asset Management Inc. now owns 249,610 shares of the company’s stock valued at $23,596,000 after purchasing an additional 17,941 shares during the period. Cigna Investments Inc. New bought a new stake in shares of AmerisourceBergen in the 2nd quarter valued at about $602,000. Schwab Charles Investment Management Inc. raised its holdings in shares of AmerisourceBergen by 1.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 598,831 shares of the company’s stock valued at $56,608,000 after purchasing an additional 6,096 shares during the period. Finally, National Planning Corp raised its holdings in shares of AmerisourceBergen by 33.6% in the 2nd quarter. National Planning Corp now owns 8,424 shares of the company’s stock valued at $798,000 after purchasing an additional 2,120 shares during the period. 67.83% of the stock is currently owned by hedge funds and other institutional investors.
In other AmerisourceBergen news, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $74.28, for a total transaction of $861,648.00. Following the transaction, the chief financial officer now owns 40,326 shares in the company, valued at approximately $2,995,415.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the transaction, the chairman now owns 260,226 shares in the company, valued at approximately $20,021,788.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,407 shares of company stock worth $13,569,358. Company insiders own 27.40% of the company’s stock.
A number of equities research analysts have recently issued reports 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 report on Friday, December 1st. Deutsche Bank assumed coverage on shares of AmerisourceBergen in a report on Monday, December 4th. They issued a “buy” rating and a $97.00 target price on the stock. Morgan Stanley cut shares of AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, Needham & Company LLC set a $93.00 price target on shares of AmerisourceBergen and gave the company a “buy” rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $91.95.
AmerisourceBergen Corporation (ABC) opened at $86.70 on Friday. The firm has a market cap of $18,907.71, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.50 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 fifty-two week low of $71.90 and a fifty-two week high of $97.85.
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 Thomson Reuters’ consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion for the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. equities research analysts anticipate that AmerisourceBergen Corporation will post 6.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Monday, November 20th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Friday, November 17th. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio is presently 82.16%.
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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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