Cypress Capital Group reduced its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,988 shares of the company’s stock after selling 1,564 shares during the quarter. Cypress Capital Group’s holdings in AmerisourceBergen were worth $3,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in ABC. Parallel Advisors LLC lifted its holdings in shares of AmerisourceBergen by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after purchasing an additional 34 shares in the last quarter. Sun Life Financial INC lifted its holdings in shares of AmerisourceBergen by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after purchasing an additional 1,200 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of AmerisourceBergen by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after purchasing an additional 375 shares in the last quarter. Intl Fcstone Inc. bought a new position in shares of AmerisourceBergen during the second quarter valued at $201,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of AmerisourceBergen during the second quarter valued at $203,000. 67.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AmerisourceBergen Corp. (NYSE ABC) opened at $87.82 on Wednesday. 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 company has a market capitalization of $18,922.97, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.50 and a beta of 1.00. AmerisourceBergen Corp. has a 1 year low of $71.90 and a 1 year high of $97.85.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. The business had revenue of $39.12 billion during the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.30 earnings per share. sell-side analysts expect that AmerisourceBergen Corp. will post 6.07 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Monday, November 20th were given a $0.38 dividend. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 17th. This represents a $1.52 dividend on an annualized basis and a yield of 1.73%. AmerisourceBergen’s dividend payout ratio is presently 82.16%.
In other AmerisourceBergen news, insider Peyton R. Howell sold 3,000 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dale Danilewitz sold 2,012 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $85.00, for a total value of $171,020.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,407 shares of company stock valued at $13,569,358. Company insiders own 27.40% of the company’s stock.
A number of research analysts have weighed in on ABC shares. Morgan Stanley downgraded AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Mizuho set a $92.00 target price on AmerisourceBergen and gave the company a “hold” rating in a report on Tuesday, October 24th. Zacks Investment Research downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. ValuEngine downgraded AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Cowen raised AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $93.20.
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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