Gulf International Bank UK Ltd grew its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 4.5% during the third quarter, Holdings Channel reports. The institutional investor owned 55,914 shares of the company’s stock after buying an additional 2,427 shares during the quarter. Gulf International Bank UK Ltd’s holdings in AmerisourceBergen were worth $5,156,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in ABC. Fort Washington Investment Advisors Inc. OH bought a new position in AmerisourceBergen during the 2nd quarter worth approximately $99,092,000. Millennium Management LLC lifted its holdings in AmerisourceBergen by 183.5% during the 2nd quarter. Millennium Management LLC now owns 1,145,365 shares of the company’s stock worth $97,665,000 after buying an additional 741,391 shares during the last quarter. Mainstay Capital Management LLC ADV lifted its holdings in AmerisourceBergen by 6,233.3% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 609,010 shares of the company’s stock worth $7,469,000 after buying an additional 599,394 shares during the last quarter. BlackRock Inc. lifted its holdings in AmerisourceBergen by 4.6% during the 2nd quarter. BlackRock Inc. now owns 12,776,453 shares of the company’s stock worth $1,089,447,000 after buying an additional 557,312 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in AmerisourceBergen by 5,677.3% during the 3rd quarter. Victory Capital Management Inc. now owns 484,426 shares of the company’s stock worth $44,674,000 after buying an additional 476,041 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.
In related news, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $90.92, for a total value of $1,941,142.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John G. Chou sold 6,974 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $83.94, for a total value of $585,397.56. Following the completion of the sale, the executive vice president now owns 56,126 shares in the company, valued at $4,711,216.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,928 shares of company stock worth $8,332,406. 27.30% of the stock is owned by insiders.
Shares of AmerisourceBergen stock opened at $88.86 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.51 and a current ratio of 0.93. The company has a market cap of $19.29 billion, a PE ratio of 13.76, a P/E/G ratio of 1.33 and a beta of 0.97. AmerisourceBergen Corp. has a twelve month low of $74.05 and a twelve month high of $106.27.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. The business had revenue of $43.30 billion for the quarter, compared to analysts’ expectations of $43.27 billion. AmerisourceBergen had a return on equity of 45.54% and a net margin of 0.99%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. As a group, research analysts expect that AmerisourceBergen Corp. will post 6.82 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be given a $0.40 dividend. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, November 16th. AmerisourceBergen’s dividend payout ratio (DPR) is currently 23.42%.
A number of research analysts have commented on ABC shares. Zacks Investment Research downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Mizuho reaffirmed a “neutral” rating on shares of AmerisourceBergen in a report on Wednesday, September 19th. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Robert W. Baird cut AmerisourceBergen from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Finally, Royal Bank of Canada set a $90.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. AmerisourceBergen currently has a consensus rating of “Hold” and a consensus target price of $101.07.
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AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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