Lincoln Capital Corp raised its position in AmerisourceBergen Corp. (NYSE:ABC) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,959 shares of the company’s stock after acquiring an additional 561 shares during the quarter. AmerisourceBergen accounts for about 1.5% of Lincoln Capital Corp’s investment portfolio, making the stock its 25th largest holding. Lincoln Capital Corp’s holdings in AmerisourceBergen were worth $1,726,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of ABC. Motco acquired a new stake in shares of AmerisourceBergen during the second quarter worth approximately $26,000. Pathstone Family Office LLC boosted its holdings in AmerisourceBergen by 67.7% in the second quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock worth $27,000 after purchasing an additional 126 shares during the period. Northwest Investment Counselors LLC acquired a new position in AmerisourceBergen in the third quarter worth $27,000. Transamerica Financial Advisors Inc. acquired a new position in AmerisourceBergen in the second quarter worth $38,000. Finally, Citizens Financial Group Inc RI boosted its holdings in AmerisourceBergen by 316.5% in the second quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock worth $39,000 after purchasing an additional 345 shares during the period. 65.99% of the stock is owned by institutional investors.
ABC stock traded up $1.99 during mid-day trading on Friday, reaching $86.07. The company had a trading volume of 976,127 shares, compared to its average volume of 1,377,801. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $18.10 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.44 and a beta of 0.98. AmerisourceBergen Corp. has a one year low of $69.36 and a one year high of $94.75. The stock’s 50-day simple moving average is $84.48 and its two-hundred day simple moving average is $83.73.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, November 15th. AmerisourceBergen’s payout ratio is 24.65%.
In other AmerisourceBergen news, EVP John G. Chou sold 13,997 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $81.48, for a total value of $1,140,475.56. Following the sale, the executive vice president now directly owns 65,782 shares in the company, valued at $5,359,917.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $86.08, for a total transaction of $1,713,422.40. Following the completion of the sale, the chief executive officer now owns 154,484 shares in the company, valued at $13,297,982.72. The disclosure for this sale can be found here. Insiders sold 95,509 shares of company stock worth $8,088,531 over the last quarter. 27.80% of the stock is currently owned by company insiders.
ABC has been the subject of a number of research reports. Morgan Stanley decreased their price objective on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. Deutsche Bank initiated coverage on shares of AmerisourceBergen in a report on Thursday, September 12th. They issued a “hold” rating and a $91.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of AmerisourceBergen from $95.00 to $91.00 and set a “neutral” rating for the company in a report on Friday. TheStreet downgraded shares of AmerisourceBergen from a “b” rating to a “c+” rating in a report on Thursday. Finally, ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $87.78.
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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