PGGM Investments increased its position in AmerisourceBergen Corp. (NYSE:ABC) by 72.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 298,850 shares of the company’s stock after buying an additional 125,950 shares during the period. PGGM Investments’ holdings in AmerisourceBergen Corp. were worth $23,705,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new position in AmerisourceBergen Corp. during the first quarter worth $104,000. Kanaly Trust Co boosted its position in AmerisourceBergen Corp. by 52.7% in the second quarter. Kanaly Trust Co now owns 1,920 shares of the company’s stock worth $152,000 after buying an additional 663 shares in the last quarter. Breton Hill Capital Ltd. bought a new position in AmerisourceBergen Corp. during the second quarter worth $206,000. HL Financial Services LLC boosted its position in AmerisourceBergen Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 2,949 shares of the company’s stock worth $234,000 after buying an additional 34 shares in the last quarter. Finally, Brookstone Capital Management bought a new position in AmerisourceBergen Corp. during the second quarter worth $255,000. Institutional investors own 66.19% of the company’s stock.
AmerisourceBergen Corp. (NYSE:ABC) traded down 2.34% on Thursday, hitting $81.25. 1,625,347 shares of the stock traded hands. AmerisourceBergen Corp. has a 12-month low of $73.31 and a 12-month high of $105.81. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 10.96 and a beta of 0.75. The firm’s 50-day moving average price is $86.08 and its 200-day moving average price is $83.34.
AmerisourceBergen Corp. (NYSE:ABC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.10. The business earned $36.90 billion during the quarter, compared to the consensus estimate of $36.57 billion. AmerisourceBergen Corp. had a return on equity of 83.93% and a net margin of 1.14%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. On average, equities research analysts anticipate that AmerisourceBergen Corp. will post $5.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, August 18th. AmerisourceBergen Corp.’s dividend payout ratio (DPR) is presently 18.73%.
A number of equities analysts have weighed in on the stock. Raymond James Financial Inc. cut shares of AmerisourceBergen Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 1st. Argus restated a “buy” rating on shares of AmerisourceBergen Corp. in a research report on Saturday, June 4th. Zacks Investment Research upgraded shares of AmerisourceBergen Corp. from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a research report on Monday, July 11th. Deutsche Bank AG increased their target price on shares of AmerisourceBergen Corp. from $83.00 to $96.00 and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Finally, Leerink Swann reiterated a “buy” rating on shares of AmerisourceBergen Corp. in a research report on Wednesday, August 3rd. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. AmerisourceBergen Corp. currently has a consensus rating of “Hold” and a consensus price target of $97.50.
In other news, insider Gina Clark sold 2,247 shares of AmerisourceBergen Corp. stock in a transaction on Friday, August 5th. The stock was sold at an average price of $89.50, for a total transaction of $201,106.50. Following the completion of the transaction, the insider now owns 9,436 shares of the company’s stock, valued at approximately $844,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Wadsworth Mcgee III sold 3,351 shares of AmerisourceBergen Corp. stock in a transaction 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 transaction, the director now directly owns 10,901 shares of the company’s stock, valued at approximately $894,972.10. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
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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