Toronto Dominion Bank increased its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 12.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 102,684 shares of the company’s stock after purchasing an additional 11,681 shares during the period. Toronto Dominion Bank’s holdings in AmerisourceBergen were worth $9,429,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of AmerisourceBergen by 107.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after purchasing an additional 2,776,287 shares during the last quarter. Harding Loevner LP increased its position in shares of 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 purchasing an additional 1,496,761 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of AmerisourceBergen in the 3rd quarter valued at approximately $75,681,000. Beutel Goodman & Co Ltd. increased its position in shares of 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 purchasing an additional 449,330 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of 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 purchasing an additional 381,936 shares during the last quarter. 66.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on ABC shares. Needham & Company LLC set a $93.00 price objective on shares of AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, October 24th. Mizuho set a $92.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a research report on Tuesday, October 24th. Jefferies Group set a $85.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a research report on Sunday, October 29th. ValuEngine raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $96.00 target price on shares of AmerisourceBergen in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have given 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 price target of $101.17.
AmerisourceBergen Corp. (ABC) opened at $99.40 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.95 and a quick ratio of 0.50. The company has a market cap of $21,835.10, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.59 and a beta of 1.02. AmerisourceBergen Corp. has a 52-week low of $71.90 and a 52-week high of $106.27.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the Zacks’ 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 net margin of 0.66% and a return on equity of 53.65%. AmerisourceBergen’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. research analysts predict that AmerisourceBergen Corp. will post 6.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Friday, February 16th. AmerisourceBergen’s dividend payout ratio is currently 32.76%.
In related news, SVP Lazarus Krikorian sold 16,427 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the completion of the sale, the senior vice president now owns 23,360 shares in the company, valued at approximately $1,982,329.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dale Danilewitz sold 4,459 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $78.30, for a total transaction of $349,139.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 205,355 shares of company stock valued at $18,519,104. 27.30% of the stock is owned by company 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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