Gyroscope Capital Management Group LLC Boosts Position in AmerisourceBergen Corp. (ABC)
Gyroscope Capital Management Group LLC increased its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 9.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,695 shares of the company’s stock after buying an additional 5,773 shares during the quarter. AmerisourceBergen comprises about 2.8% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 16th biggest position. Gyroscope Capital Management Group LLC’s holdings in AmerisourceBergen were worth $5,602,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of ABC. Parallel Advisors LLC raised its stake in shares of AmerisourceBergen by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after purchasing an additional 34 shares during the last quarter. Stephens Inc. AR raised its stake in shares of AmerisourceBergen by 1.5% in the second quarter. Stephens Inc. AR now owns 5,141 shares of the company’s stock worth $486,000 after purchasing an additional 77 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of AmerisourceBergen by 0.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,329 shares of the company’s stock worth $1,165,000 after purchasing an additional 80 shares during the last quarter. Buckingham Asset Management LLC raised its stake in shares of AmerisourceBergen by 4.3% in the second quarter. Buckingham Asset Management LLC now owns 2,447 shares of the company’s stock worth $231,000 after purchasing an additional 100 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of AmerisourceBergen by 4.0% in the second quarter. Pzena Investment Management LLC now owns 2,602 shares of the company’s stock worth $246,000 after purchasing an additional 100 shares during the last quarter. 67.94% of the stock is currently owned by institutional investors and hedge funds.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the completion of the transaction, the chairman now directly owns 260,226 shares of the company’s stock, valued at $20,021,788.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction on 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. Over the last three months, insiders have sold 170,407 shares of company stock valued at $13,745,358. 27.40% of the stock is owned by corporate insiders.
Several analysts have recently commented on ABC shares. Jefferies Group set a $95.00 price objective on AmerisourceBergen and gave the stock a “hold” rating in a research note on Tuesday, August 29th. ValuEngine lowered AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $91.00 target price on shares of AmerisourceBergen in a report on Sunday, September 10th. Morgan Stanley lowered AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Finally, Royal Bank of Canada initiated coverage on AmerisourceBergen in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $87.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $93.20.
AmerisourceBergen Corp. (NYSE ABC) opened at $88.48 on Thursday. The stock has a market capitalization of $19,151.96, a P/E ratio of 14.91, a PEG ratio of 1.52 and a beta of 1.00. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.83. AmerisourceBergen Corp. has a twelve month low of $71.90 and a twelve month high of $97.85.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $1.30 earnings per share. AmerisourceBergen’s revenue was up 4.2% compared to the same quarter last year. analysts anticipate that AmerisourceBergen Corp. will post 6.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Monday, November 20th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.72%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 17th. AmerisourceBergen’s dividend payout ratio is 82.16%.
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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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