Greenleaf Trust purchased a new stake in shares of AmerisourceBergen Corp. (NYSE:ABC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 56,525 shares of the company’s stock, valued at approximately $4,484,000.
Other large investors also recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in AmerisourceBergen Corp. during the first quarter valued at approximately $104,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in AmerisourceBergen Corp. during the second quarter valued at approximately $119,000. Kanaly Trust Co boosted its stake in AmerisourceBergen Corp. by 52.7% in the second quarter. Kanaly Trust Co now owns 1,920 shares of the company’s stock valued at $152,000 after buying an additional 663 shares in the last quarter. Breton Hill Capital Ltd. acquired a new stake in AmerisourceBergen Corp. during the second quarter valued at approximately $206,000. Finally, HL Financial Services LLC boosted its stake in AmerisourceBergen Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 2,949 shares of the company’s stock valued at $234,000 after buying an additional 34 shares in the last quarter. 66.19% of the stock is owned by institutional investors.
AmerisourceBergen Corp. (NYSE:ABC) traded down 0.66% during mid-day trading on Wednesday, reaching $80.00. The company’s stock had a trading volume of 1,020,145 shares. The company has a 50-day moving average price of $85.34 and a 200-day moving average price of $83.14. AmerisourceBergen Corp. has a 12-month low of $73.31 and a 12-month high of $105.81. The firm has a market cap of $17.18 billion, a PE ratio of 10.79 and a beta of 0.74.
AmerisourceBergen Corp. (NYSE:ABC) last posted its earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.10. AmerisourceBergen Corp. had a return on equity of 83.93% and a net margin of 1.14%. The firm had revenue of $36.90 billion for the quarter, compared to the consensus estimate of $36.57 billion. During the same quarter in the prior year, the business earned $1.20 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts expect that AmerisourceBergen Corp. will post $5.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.69%. AmerisourceBergen Corp.’s dividend payout ratio is currently 18.73%.
Several brokerages have issued reports on ABC. Leerink Swann increased their price target on AmerisourceBergen Corp. to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 26th. Morgan Stanley reiterated a “hold” rating and issued a $89.00 price target on shares of AmerisourceBergen Corp. in a report on Monday, September 12th. Zacks Investment Research lowered AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Bank of America Corp. reiterated a “neutral” rating on shares of AmerisourceBergen Corp. in a report on Tuesday, June 7th. Finally, Citigroup Inc. increased their price target on AmerisourceBergen Corp. from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $97.50.
In other news, Director Henry Wadsworth Mcgee III sold 3,351 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $82.10, for a total value of $275,117.10. Following the sale, the director now directly owns 10,901 shares of the company’s stock, valued at approximately $894,972.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gina Clark sold 2,247 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $89.50, for a total value of $201,106.50. Following the completion of the sale, the insider now directly owns 9,436 shares in the company, valued at $844,522. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.
AmerisourceBergen Corp. Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.
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