Capital International Investors Buys 103,200 Shares of AmerisourceBergen Corporation (Holding Co) (ABC)
Capital International Investors grew its stake in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 139.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,200 shares of the company’s stock after acquiring an additional 103,200 shares during the quarter. Capital International Investors owned about 0.08% of AmerisourceBergen worth $14,663,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Vident Investment Advisory LLC purchased a new position in AmerisourceBergen during the third quarter worth about $762,000. Oppenheimer Asset Management Inc. lifted its position in AmerisourceBergen by 43.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 166,531 shares of the company’s stock worth $13,780,000 after buying an additional 50,402 shares during the period. First Republic Investment Management Inc. lifted its position in AmerisourceBergen by 230.9% during the third quarter. First Republic Investment Management Inc. now owns 39,096 shares of the company’s stock worth $3,236,000 after buying an additional 27,281 shares during the period. Pinkerton Retirement Specialists LLC lifted its position in AmerisourceBergen by 5.8% during the third quarter. Pinkerton Retirement Specialists LLC now owns 12,303 shares of the company’s stock worth $1,020,000 after buying an additional 676 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in AmerisourceBergen by 2.4% during the third quarter. Allianz Asset Management GmbH now owns 688,796 shares of the company’s stock worth $56,997,000 after buying an additional 15,819 shares during the period. Institutional investors and hedge funds own 67.94% of the company’s stock.
Shares of AmerisourceBergen Corporation (NYSE ABC) opened at $86.77 on Tuesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. AmerisourceBergen Corporation has a 12 month low of $71.90 and a 12 month high of $97.85. The company has a market capitalization of $18,907.71, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.50 and a beta of 1.00.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The business had revenue of $39.12 billion during the quarter, compared to analyst estimates of $40.10 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. sell-side analysts anticipate that AmerisourceBergen Corporation will post 6.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were paid a $0.38 dividend. The ex-dividend date was Friday, November 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.75%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio (DPR) is 82.16%.
In other news, insider Peyton R. Howell sold 3,000 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $86.20, for a total value of $258,600.00. Following the completion of the sale, the insider now owns 49,189 shares in the company, valued at $4,240,091.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $79.47, for a total value of $921,852.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,407 shares of company stock valued at $13,569,358. Insiders own 27.40% of the company’s stock.
Several equities analysts recently weighed in on ABC shares. Needham & Company LLC increased their target price on AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Jefferies Group set a $95.00 target price on AmerisourceBergen and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Robert W. Baird restated a “buy” rating and set a $96.00 price target on shares of AmerisourceBergen in a research note on Monday, November 6th. Mizuho set a $92.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Finally, ValuEngine upgraded AmerisourceBergen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $91.95.
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AmerisourceBergen Company Profile
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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