AmerisourceBergen Corporation (Holding Co) (ABC) CFO Sells $994,468.00 in Stock
AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $85.73, for a total transaction of $994,468.00. Following the sale, the chief financial officer now directly owns 56,436 shares of the company’s stock, valued at $4,838,258.28. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Tim G. Guttman also recently made the following trade(s):
- On Wednesday, September 20th, Tim G. Guttman sold 11,600 shares of AmerisourceBergen stock. The shares were sold at an average price of $79.47, for a total transaction of $921,852.00.
AmerisourceBergen Corporation (NYSE ABC) traded down $1.53 during midday trading on Tuesday, hitting $85.89. 1,906,139 shares of the stock traded hands, compared to its average volume of 1,797,717. AmerisourceBergen Corporation has a 1-year low of $71.90 and a 1-year high of $97.85. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48. The firm has a market cap of $18,730.00, a price-to-earnings ratio of 14.42, a PEG ratio of 1.47 and a beta of 0.99.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The business had revenue of $39.12 billion during the quarter, compared to analyst estimates of $40.10 billion. During the same period in the previous year, the business posted $1.30 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. equities research analysts expect that AmerisourceBergen Corporation will post 6.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were issued a $0.38 dividend. The ex-dividend date was Friday, November 17th. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.77%. AmerisourceBergen’s payout ratio is 93.83%.
A number of research firms recently weighed in on ABC. Deutsche Bank began coverage on shares of AmerisourceBergen in a report on Monday. They set a “buy” rating and a $97.00 price target for the company. Robert W. Baird set a $99.00 price target on shares of AmerisourceBergen and gave the company a “buy” rating in a report on Friday. Needham & Company LLC raised their price target on shares of AmerisourceBergen from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. ValuEngine raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Jefferies Group set a $85.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Sunday, October 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $91.95.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in AmerisourceBergen by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock valued at $1,479,701,000 after purchasing an additional 304,628 shares during the last quarter. JPMorgan Chase & Co. lifted its position in AmerisourceBergen by 107.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after purchasing an additional 2,776,287 shares during the last quarter. Franklin Resources Inc. lifted its position in AmerisourceBergen by 23.1% in the 2nd quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock valued at $368,884,000 after purchasing an additional 731,466 shares during the last quarter. Wells Fargo & Company MN lifted its position in AmerisourceBergen by 11.4% in the 3rd quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock valued at $308,358,000 after purchasing an additional 381,936 shares during the last quarter. Finally, FIL Ltd lifted its position in AmerisourceBergen by 14.4% in the 2nd quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock valued at $328,696,000 after purchasing an additional 437,132 shares during the last quarter. 67.83% of the stock is owned by institutional investors and hedge funds.
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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