Gulf International Bank UK Ltd lessened its holdings in shares of AmerisourceBergen (NYSE:ABC) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,487 shares of the company’s stock after selling 669 shares during the period. Gulf International Bank UK Ltd’s holdings in AmerisourceBergen were worth $4,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of AmerisourceBergen by 8.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock worth $579,000 after purchasing an additional 507 shares during the last quarter. Bray Capital Advisors raised its holdings in shares of AmerisourceBergen by 2.5% during the fourth quarter. Bray Capital Advisors now owns 21,890 shares of the company’s stock worth $2,010,000 after purchasing an additional 525 shares during the last quarter. River Wealth Advisors LLC raised its holdings in shares of AmerisourceBergen by 1.6% during the first quarter. River Wealth Advisors LLC now owns 34,764 shares of the company’s stock worth $2,997,000 after purchasing an additional 561 shares during the last quarter. Meadow Creek Investment Management LLC raised its holdings in shares of AmerisourceBergen by 2.2% during the fourth quarter. Meadow Creek Investment Management LLC now owns 27,216 shares of the company’s stock worth $2,499,000 after purchasing an additional 576 shares during the last quarter. Finally, State Treasurer State of Michigan raised its holdings in shares of AmerisourceBergen by 1.3% during the first quarter. State Treasurer State of Michigan now owns 47,884 shares of the company’s stock worth $4,128,000 after purchasing an additional 600 shares during the last quarter. 65.95% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Dale Danilewitz sold 3,121 shares of AmerisourceBergen stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $86.10, for a total value of $268,718.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert P. Mauch sold 1,000 shares of AmerisourceBergen stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $97.94, for a total transaction of $97,940.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,092 shares of company stock worth $10,136,544. Company insiders own 27.30% of the company’s stock.
A number of research firms have weighed in on ABC. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday. Mizuho set a $100.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, January 24th. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Thursday, February 8th. Cowen reaffirmed a “buy” rating and issued a $108.00 price objective on shares of AmerisourceBergen in a report on Tuesday, February 27th. Finally, Needham & Company LLC cut their price objective on shares of AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $103.07.
Shares of AmerisourceBergen opened at $84.34 on Tuesday, according to Marketbeat. AmerisourceBergen has a 52-week low of $71.90 and a 52-week high of $106.27. The stock has a market capitalization of $18.63 billion, a PE ratio of 14.34, a P/E/G ratio of 1.28 and a beta of 1.04. The company has a current ratio of 0.94, a quick ratio of 0.48 and a debt-to-equity ratio of 1.38.
AmerisourceBergen (NYSE:ABC) last announced its earnings results on Wednesday, May 2nd. The company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.13. AmerisourceBergen had a net margin of 0.57% and a return on equity of 51.04%. The business had revenue of $41.03 billion for the quarter, compared to analyst estimates of $40.56 billion. During the same quarter last year, the business earned $1.77 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. research analysts predict that AmerisourceBergen will post 6.49 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 4th. Stockholders of record on Monday, May 21st will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, May 18th. This represents a $1.52 annualized dividend and a dividend yield of 1.80%. AmerisourceBergen’s dividend payout ratio (DPR) is 25.85%.
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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