IFG Advisory LLC grew its stake in AmerisourceBergen Corp. (NYSE:ABC) by 17.9% in the 1st quarter, Holdings Channel reports. The firm owned 10,934 shares of the company’s stock after purchasing an additional 1,658 shares during the period. IFG Advisory LLC’s holdings in AmerisourceBergen were worth $869,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Martingale Asset Management L P increased its holdings in AmerisourceBergen by 1.2% during the 1st quarter. Martingale Asset Management L P now owns 25,470 shares of the company’s stock worth $2,026,000 after purchasing an additional 297 shares during the period. Rational Advisors LLC increased its holdings in AmerisourceBergen by 1,627.3% during the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock worth $30,000 after purchasing an additional 358 shares during the period. Barings LLC increased its holdings in AmerisourceBergen by 179.8% during the 1st quarter. Barings LLC now owns 26,297 shares of the company’s stock worth $2,091,000 after purchasing an additional 16,900 shares during the period. Great West Life Assurance Co. Can increased its holdings in AmerisourceBergen by 7.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 284,743 shares of the company’s stock worth $22,577,000 after purchasing an additional 19,117 shares during the period. Finally, Vaughan David Investments LLC IL increased its holdings in AmerisourceBergen by 1.8% during the 1st quarter. Vaughan David Investments LLC IL now owns 197,621 shares of the company’s stock worth $15,715,000 after purchasing an additional 3,488 shares during the period. 65.71% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Steven H. Collis sold 21,344 shares of AmerisourceBergen stock in a transaction on Friday, March 1st. The stock was sold at an average price of $83.62, for a total value of $1,784,785.28. Following the transaction, the chief executive officer now directly owns 155,923 shares in the company, valued at approximately $13,038,281.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dale Danilewitz sold 543 shares of AmerisourceBergen stock in a transaction on Monday, February 25th. The shares were sold at an average price of $86.30, for a total value of $46,860.90. Following the completion of the transaction, the executive vice president now owns 2,714 shares in the company, valued at $234,218.20. The disclosure for this sale can be found here. Over the last quarter, insiders bought 2,018 shares of company stock worth $156,471 and sold 45,586 shares worth $3,679,443. Company insiders own 27.80% of the company’s stock.
ABC has been the topic of several research reports. Bank of America downgraded AmerisourceBergen from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $95.00 to $76.00 in a report on Wednesday, April 10th. Wolfe Research initiated coverage on AmerisourceBergen in a report on Tuesday, April 2nd. They set a “market perform” rating on the stock. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Zacks Investment Research downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Monday, March 25th. Finally, TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. AmerisourceBergen presently has an average rating of “Hold” and a consensus target price of $86.38.
Shares of NYSE:ABC opened at $80.44 on Friday. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $94.88. The firm has a market capitalization of $16.93 billion, a PE ratio of 12.39, a P/E/G ratio of 1.57 and a beta of 1.07. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.43.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.15. AmerisourceBergen had a return on equity of 46.24% and a net margin of 0.53%. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $43.44 billion. During the same period last year, the business posted $1.94 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts forecast that AmerisourceBergen Corp. will post 6.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. AmerisourceBergen’s dividend payout ratio is presently 24.65%.
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AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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