APG Asset Management N.V. reduced its stake in AmerisourceBergen Corp. (NYSE:ABC) by 93.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,409 shares of the company’s stock after selling 976,507 shares during the quarter. APG Asset Management N.V.’s holdings in AmerisourceBergen were worth $5,384,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of 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 during the period. Wells Fargo & Company MN grew its stake in AmerisourceBergen by 11.4% in the 3rd quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock valued at $308,358,000 after acquiring an additional 381,936 shares during the period. Harding Loevner LP grew its stake in AmerisourceBergen by 89.6% in the 3rd quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock valued at $134,939,000 after acquiring an additional 1,496,761 shares during the period. Burgundy Asset Management Ltd. grew its stake in AmerisourceBergen by 1.9% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,698,948 shares of the company’s stock valued at $223,338,000 after acquiring an additional 49,825 shares during the period. Finally, Beutel Goodman & Co Ltd. grew its stake in AmerisourceBergen by 23.3% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,374,727 shares of the company’s stock valued at $174,194,000 after acquiring an additional 449,330 shares during the period. 66.84% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on ABC. Zacks Investment Research cut shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Needham & Company LLC reduced their price target on AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Jefferies Group set a $85.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a report on Sunday, October 29th. Goldman Sachs Group upgraded AmerisourceBergen from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. Finally, Leerink Swann set a $105.00 price objective on shares of AmerisourceBergen and gave the company a “buy” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $101.17.
AmerisourceBergen Corp. (ABC) traded up $7.05 during trading on Tuesday, hitting $96.50. The stock had a trading volume of 4,996,911 shares, compared to its average volume of 1,982,339. The stock has a market capitalization of $19,650.00, a PE ratio of 22.93, a PEG ratio of 1.43 and a beta of 1.02. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.95 and a quick ratio of 0.50. 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 Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.20. The firm had revenue of $40.47 billion during the quarter, compared to analysts’ expectations of $40.42 billion. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. AmerisourceBergen’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. sell-side analysts expect that AmerisourceBergen Corp. will post 6.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 5th. Shareholders of record on Tuesday, February 20th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, February 16th. AmerisourceBergen’s dividend payout ratio (DPR) is 34.47%.
In other AmerisourceBergen news, insider Peyton R. Howell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.60, for a total value of $274,800.00. Following the sale, the insider now directly owns 49,189 shares of the company’s stock, valued at approximately $4,505,712.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $85.73, for a total value of $994,468.00. Following the completion of the sale, the chief financial officer now directly owns 56,436 shares in the company, valued at $4,838,258.28. The disclosure for this sale can be found here. Insiders sold 203,077 shares of company stock worth $18,288,730 in the last three months. 27.30% of the stock is owned by corporate insiders.
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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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