Quadrant Capital Group LLC increased its position in shares of AmerisourceBergen (NYSE:ABC) by 34.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,460 shares of the company’s stock after buying an additional 637 shares during the period. Quadrant Capital Group LLC’s holdings in AmerisourceBergen were worth $206,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its stake in AmerisourceBergen by 8.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock worth $579,000 after buying an additional 507 shares during the period. Bray Capital Advisors increased its position in shares of AmerisourceBergen by 2.5% in the 4th 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 increased its position in shares of AmerisourceBergen by 1.6% in the 1st 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 increased its position in shares of AmerisourceBergen by 2.2% in the 4th 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 increased its position in shares of AmerisourceBergen by 1.3% in the 1st 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 currently owned by hedge funds and other institutional investors.
ABC has been the subject of several research reports. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Thursday, February 8th. Bank of America initiated coverage on shares of AmerisourceBergen in a report on Tuesday, February 27th. They issued a “buy” rating and a $111.00 price target for the company. Argus lifted their price target on shares of AmerisourceBergen from $93.96 to $115.00 and gave the company a “buy” rating in a report on Monday, March 5th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $112.00 price target (up from $105.00) on shares of AmerisourceBergen in a report on Wednesday, February 7th. They noted that the move was a valuation call. Finally, Needham & Company LLC decreased their price target 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $103.07.
AmerisourceBergen opened at $84.09 on Friday, according to Marketbeat. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.48 and a current ratio of 0.94. AmerisourceBergen has a 12 month low of $71.90 and a 12 month high of $106.27. The company has a market capitalization of $18.45 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.
AmerisourceBergen (NYSE:ABC) last released its earnings results on Wednesday, May 2nd. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $40.56 billion. During the same period in the previous year, the firm earned $1.77 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. research analysts expect that AmerisourceBergen will post 6.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 4th. Stockholders of record on Monday, May 21st will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, May 18th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.81%. AmerisourceBergen’s dividend payout ratio is currently 25.85%.
In other AmerisourceBergen news, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $93.01, for a total value of $1,078,916.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 21,350 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $94.25, for a total transaction of $2,012,237.50. The disclosure for this sale can be found here. Insiders have sold 114,092 shares of company stock worth $10,136,544 in the last 90 days. 27.30% of the stock is owned by company insiders.
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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