BB&T Investment Services Inc. lifted its stake in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 14.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,580 shares of the company’s stock after buying an additional 1,570 shares during the quarter. BB&T Investment Services Inc.’s holdings in AmerisourceBergen were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC grew its holdings in AmerisourceBergen by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after purchasing an additional 34 shares during the period. Sun Life Financial INC grew its holdings in AmerisourceBergen by 15,000.0% in the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after purchasing an additional 1,200 shares during the period. D.A. Davidson & CO. grew its holdings in AmerisourceBergen by 29.0% in the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after purchasing an additional 375 shares during the period. Intl Fcstone Inc. purchased a new stake in AmerisourceBergen in the second quarter worth about $201,000. Finally, Pinnacle Associates Ltd. purchased a new stake in AmerisourceBergen in the second quarter worth about $203,000. Institutional investors own 67.83% of the company’s stock.
A number of brokerages have weighed in on ABC. Cowen upgraded shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. Jefferies Group set a $85.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Sunday, October 29th. Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Leerink Swann set a $90.00 price objective on shares of AmerisourceBergen and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, Robert W. Baird set a $99.00 price objective on shares of AmerisourceBergen and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $91.95.
Shares of AmerisourceBergen Corporation (ABC) traded up $0.13 during midday trading on Monday, hitting $84.95. 3,188,500 shares of the stock traded hands, compared to its average volume of 1,795,807. The company has a market capitalization of $18,526.06, a P/E ratio of 14.42, a PEG ratio of 1.47 and a beta of 1.00. AmerisourceBergen Corporation has a 52-week low of $71.90 and a 52-week high of $97.85. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83.
AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion for the quarter, compared to the consensus estimate of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. equities research analysts forecast that AmerisourceBergen Corporation will post 6.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, November 17th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio is currently 82.16%.
AmerisourceBergen Company Profile
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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