Starfire Investment Advisers Inc. purchased a new stake in shares of AmerisourceBergen Corp. (NYSE:ABC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,600 shares of the company’s stock, valued at approximately $239,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. First Mercantile Trust Co. purchased a new position in shares of AmerisourceBergen in the 2nd quarter valued at approximately $107,000. Financial Gravity Wealth Inc. raised its position in shares of AmerisourceBergen by 93.2% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock valued at $108,000 after purchasing an additional 605 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of AmerisourceBergen in the 3rd quarter valued at approximately $120,000. Centaurus Financial Inc. purchased a new position in shares of AmerisourceBergen in the 2nd quarter valued at approximately $129,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of AmerisourceBergen in the 3rd quarter valued at approximately $130,000. 66.19% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on ABC. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $94.00 price objective on shares of AmerisourceBergen in a research report on Friday, July 20th. Mizuho reaffirmed a “neutral” rating on shares of AmerisourceBergen in a research report on Wednesday, September 19th. Royal Bank of Canada set a $90.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $101.07.
In other news, 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 transaction of $585,397.56. Following the sale, the executive vice president now owns 56,126 shares of the company’s stock, valued at approximately $4,711,216.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred on 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 directly owns 287,925 shares in the company, valued at approximately $25,432,415.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,928 shares of company stock worth $8,332,406. 27.30% of the stock is owned by corporate insiders.
Shares of NYSE:ABC opened at $88.86 on Friday. AmerisourceBergen Corp. has a twelve month low of $74.05 and a twelve month high of $106.27. 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 capitalization of $18.72 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.29 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 net margin of 0.99% and a return on equity of 45.54%. 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 company earned $1.33 EPS. AmerisourceBergen’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that AmerisourceBergen Corp. will post 6.82 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, November 16th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.38. AmerisourceBergen’s dividend payout ratio is 23.42%.
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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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