Evanston Investments Inc. dba Evanston Advisors grew its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,812 shares of the company’s stock after purchasing an additional 2,526 shares during the period. AmerisourceBergen makes up 2.0% of Evanston Investments Inc. dba Evanston Advisors’ investment portfolio, making the stock its 16th largest position. Evanston Investments Inc. dba Evanston Advisors’ holdings in AmerisourceBergen were worth $9,020,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in ABC. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of AmerisourceBergen by 140.9% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock valued at $105,000 after purchasing an additional 668 shares during the last quarter. First Mercantile Trust Co. acquired a new position in AmerisourceBergen during the 2nd quarter worth about $107,000. Financial Gravity Wealth Inc. lifted its stake in AmerisourceBergen by 93.2% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock worth $108,000 after acquiring an additional 605 shares in the last quarter. Truvestments Capital LLC acquired a new position in AmerisourceBergen during the 3rd quarter worth about $120,000. Finally, Centaurus Financial Inc. acquired a new position in AmerisourceBergen during the 2nd quarter worth about $129,000. 66.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE ABC opened at $89.15 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.50 and a debt-to-equity ratio of 1.36. AmerisourceBergen Corp. has a 1-year low of $76.48 and a 1-year high of $106.27. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.36 and a beta of 0.97.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.01. AmerisourceBergen had a return on equity of 45.54% and a net margin of 0.99%. The company had revenue of $43.30 billion for the quarter, compared to the consensus estimate of $43.27 billion. During the same quarter in the prior year, the business earned $1.33 EPS. AmerisourceBergen’s revenue was up 10.7% on a year-over-year basis. On average, research analysts expect that AmerisourceBergen Corp. will post 6.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be issued a dividend of $0.40 per share. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 16th. This represents a $1.60 annualized dividend and a yield of 1.79%. AmerisourceBergen’s dividend payout ratio is 23.42%.
In other AmerisourceBergen news, CEO Steven H. Collis sold 21,350 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $88.33, for a total transaction of $1,885,845.50. Following the sale, the chief executive officer now owns 287,925 shares in the company, valued at approximately $25,432,415.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John G. Chou sold 6,974 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $86.19, for a total value of $601,089.06. Following the sale, the insider now owns 56,125 shares in the company, valued at approximately $4,837,413.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,954 shares of company stock worth $7,747,008. 27.30% of the stock is owned by company insiders.
ABC has been the topic of several research reports. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Royal Bank of Canada set a $90.00 target price on AmerisourceBergen and gave the stock a “hold” rating in a research note on Wednesday, November 7th. Mizuho reissued a “hold” rating and set a $90.00 target price on shares of AmerisourceBergen in a research note on Sunday, August 12th. Robert W. Baird reissued a “neutral” rating and set a $94.00 target price on shares of AmerisourceBergen in a research note on Friday, July 20th. Finally, Zacks Investment Research lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. AmerisourceBergen currently has an average 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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