Public Employees Retirement Association of Colorado lowered its position in AmerisourceBergen Co. (NYSE:ABC) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,643 shares of the company’s stock after selling 143 shares during the period. Public Employees Retirement Association of Colorado’s holdings in AmerisourceBergen were worth $2,873,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in ABC. First Trust Advisors LP boosted its holdings in AmerisourceBergen by 1,046.7% in the third quarter. First Trust Advisors LP now owns 1,248,202 shares of the company’s stock worth $120,976,000 after acquiring an additional 1,139,353 shares in the last quarter. FIL Ltd lifted its holdings in shares of AmerisourceBergen by 40.0% in the second quarter. FIL Ltd now owns 3,150,500 shares of the company’s stock valued at $317,477,000 after purchasing an additional 900,744 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of AmerisourceBergen by 312.0% in the second quarter. PNC Financial Services Group Inc. now owns 922,709 shares of the company’s stock valued at $92,982,000 after purchasing an additional 698,740 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of AmerisourceBergen by 35.9% in the second quarter. AQR Capital Management LLC now owns 1,932,544 shares of the company’s stock valued at $191,225,000 after purchasing an additional 510,954 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of AmerisourceBergen by 44.9% in the second quarter. Bank of America Corp DE now owns 1,238,582 shares of the company’s stock valued at $124,812,000 after purchasing an additional 383,819 shares in the last quarter. Institutional investors and hedge funds own 61.02% of the company’s stock.
A number of research firms have recently weighed in on ABC. Credit Suisse Group raised their target price on AmerisourceBergen from $118.00 to $123.00 and gave the company an “outperform” rating in a report on Monday, November 9th. TheStreet lowered AmerisourceBergen from a “b+” rating to a “d” rating in a report on Thursday, November 5th. Morgan Stanley raised their target price on AmerisourceBergen from $121.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, November 9th. UBS Group lifted their price target on AmerisourceBergen from $99.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, ValuEngine upgraded AmerisourceBergen from a “strong sell” rating to a “sell” rating in a report on Monday, August 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. AmerisourceBergen currently has an average rating of “Hold” and an average price target of $107.90.
In other AmerisourceBergen news, EVP Gina Clark sold 3,097 shares of the firm’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $94.20, for a total value of $291,737.40. Following the completion of the sale, the executive vice president now directly owns 14,813 shares of the company’s stock, valued at $1,395,384.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John G. Chou sold 5,602 shares of AmerisourceBergen stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $97.89, for a total value of $548,379.78. Following the completion of the transaction, the executive vice president now owns 57,397 shares of the company’s stock, valued at $5,618,592.33. The disclosure for this sale can be found here. Insiders sold 14,301 shares of company stock valued at $1,371,635 over the last three months. Company insiders own 28.30% of the company’s stock.
Shares of AmerisourceBergen stock opened at $100.46 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.60 and a debt-to-equity ratio of 0.91. The business’s fifty day simple moving average is $100.21 and its 200 day simple moving average is $98.17. AmerisourceBergen Co. has a 12 month low of $72.06 and a 12 month high of $111.25. The firm has a market capitalization of $20.51 billion, a P/E ratio of -5.98, a price-to-earnings-growth ratio of 1.69 and a beta of 0.55.
AmerisourceBergen (NYSE:ABC) last released its earnings results on Tuesday, November 10th. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.02. AmerisourceBergen had a positive return on equity of 65.93% and a negative net margin of 1.80%. The business had revenue of $49.24 billion during the quarter, compared to the consensus estimate of $47.93 billion. During the same period last year, the business posted $1.61 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts predict that AmerisourceBergen Co. will post 8.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be given a $0.44 dividend. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, November 13th. AmerisourceBergen’s dividend payout ratio (DPR) is currently 22.28%.
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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