Allianz Asset Management GmbH increased its holdings in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 688,796 shares of the company’s stock after buying an additional 15,819 shares during the quarter. Allianz Asset Management GmbH owned about 0.31% of AmerisourceBergen worth $56,997,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABC. Municipal Employees Retirement System of Michigan increased its holdings in AmerisourceBergen by 49.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,060 shares of the company’s stock worth $762,000 after buying an additional 2,670 shares in the last quarter. Sei Investments Co. increased its holdings in AmerisourceBergen by 31.4% in the 2nd quarter. Sei Investments Co. now owns 131,059 shares of the company’s stock worth $12,390,000 after buying an additional 31,334 shares in the last quarter. Candriam Luxembourg S.C.A. grew its stake in shares of AmerisourceBergen by 15.5% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 31,798 shares of the company’s stock valued at $3,006,000 after purchasing an additional 4,279 shares during the period. TD Asset Management Inc. grew its stake in shares of AmerisourceBergen by 7.7% during the 2nd quarter. TD Asset Management Inc. now owns 249,610 shares of the company’s stock valued at $23,596,000 after purchasing an additional 17,941 shares during the period. Finally, Cigna Investments Inc. New bought a new stake in shares of AmerisourceBergen during the 2nd quarter valued at about $602,000. Institutional investors own 67.83% of the company’s stock.
A number of research firms have issued reports on ABC. Needham & Company LLC boosted their price target on AmerisourceBergen from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Royal Bank Of Canada began coverage on AmerisourceBergen in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $87.00 price target for the company. Morgan Stanley downgraded AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a research note on Thursday, September 14th. Robert W. Baird set a $99.00 price target on AmerisourceBergen and gave the company a “buy” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $91.95.
AmerisourceBergen Corporation (ABC) opened at $85.99 on Thursday. The stock has a market capitalization of $18,731.06, a P/E ratio of 14.58, a P/E/G ratio of 1.49 and a beta of 1.00. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. AmerisourceBergen Corporation has a 52 week low of $71.90 and a 52 week high of $97.85.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The company had revenue of $39.12 billion during the quarter, compared to the consensus estimate of $40.10 billion. During the same period in the previous year, the company posted $1.30 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. research analysts predict that AmerisourceBergen Corporation will post 6.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Monday, November 20th were issued a $0.38 dividend. The ex-dividend date was Friday, November 17th. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.77%. AmerisourceBergen’s payout ratio is currently 82.16%.
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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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