Stifel Financial Corp Increases Holdings in AmerisourceBergen Corp. (ABC)
Stifel Financial Corp boosted its position in AmerisourceBergen Corp. (NYSE:ABC) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,303 shares of the company’s stock after purchasing an additional 2,038 shares during the period. Stifel Financial Corp’s holdings in AmerisourceBergen were worth $3,996,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of AmerisourceBergen by 3.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after buying an additional 34 shares in the last quarter. Sun Life Financial INC lifted its position in shares of AmerisourceBergen by 15,000.0% during the 2nd quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after buying an additional 1,200 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of AmerisourceBergen by 29.0% during the 2nd quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after buying an additional 375 shares in the last quarter. Intl Fcstone Inc. purchased a new position in shares of AmerisourceBergen during the 2nd quarter valued at about $201,000. Finally, Pinnacle Associates Ltd. purchased a new position in shares of AmerisourceBergen during the 2nd quarter valued at about $203,000. 67.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at $93.17 on Monday. The stock has a market capitalization of $20,318.70, a P/E ratio of 15.82, a P/E/G ratio of 1.61 and a beta of 1.00. AmerisourceBergen Corp. has a 12 month low of $71.90 and a 12 month high of $97.85. 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 (NYSE:ABC) last issued its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.01. The company had revenue of $39.12 billion for the quarter, compared to the consensus estimate of $40.10 billion. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. equities analysts forecast that AmerisourceBergen Corp. will post 6.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Monday, November 20th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.63%. The ex-dividend date was Friday, November 17th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio (DPR) is 82.16%.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total value of $1,642,669.00. Following the sale, the chairman now owns 260,226 shares of the company’s stock, valued at approximately $20,021,788.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert P. Mauch sold 3,000 shares of AmerisourceBergen stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $90.00, for a total value of $270,000.00. Following the completion of the sale, the executive vice president now directly owns 14,531 shares in the company, valued at approximately $1,307,790. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,207 shares of company stock worth $15,612,018. Corporate insiders own 27.40% of the company’s stock.
A number of research analysts have recently weighed in on ABC shares. ValuEngine raised AmerisourceBergen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Needham & Company LLC set a $93.00 price objective on AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, October 24th. Robert W. Baird reaffirmed a “buy” rating and set a $96.00 price objective on shares of AmerisourceBergen in a research report on Monday, November 6th. Deutsche Bank started coverage on AmerisourceBergen in a research report on Monday, December 4th. They set a “buy” rating and a $97.00 price objective on the stock. Finally, Cowen set a $107.00 price objective on AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. AmerisourceBergen presently has an average rating of “Buy” and a consensus target price of $93.20.
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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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