Macquarie Group Ltd. grew its holdings in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,214 shares of the company’s stock after buying an additional 894 shares during the period. Macquarie Group Ltd.’s holdings in AmerisourceBergen were worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Merchants Corp raised its holdings in AmerisourceBergen by 160.5% during the third quarter. First Merchants Corp now owns 27,342 shares of the company’s stock worth $2,262,000 after purchasing an additional 16,848 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in AmerisourceBergen by 23.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,459 shares of the company’s stock worth $369,000 after purchasing an additional 842 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in AmerisourceBergen by 17.3% during the third quarter. Wedge Capital Management L L P NC now owns 494,216 shares of the company’s stock worth $40,896,000 after purchasing an additional 72,743 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in AmerisourceBergen by 7.8% during the second quarter. Achmea Investment Management B.V. now owns 29,338 shares of the company’s stock worth $2,770,000 after purchasing an additional 2,123 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its holdings in AmerisourceBergen by 3.3% during the second quarter. Burgundy Asset Management Ltd. now owns 2,649,123 shares of the company’s stock worth $250,422,000 after purchasing an additional 84,163 shares in the last quarter. 67.83% of the stock is currently owned by institutional investors.
In other AmerisourceBergen news, SVP Lazarus Krikorian sold 16,427 shares of AmerisourceBergen stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the transaction, the senior vice president now directly owns 23,360 shares in the company, valued at approximately $1,982,329.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total transaction of $921,852.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,407 shares of company stock worth $13,310,758. Corporate insiders own 27.40% of the company’s stock.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion for the quarter, compared to analyst estimates of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. equities analysts forecast that AmerisourceBergen Corporation will post 6.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Shareholders of record on Monday, November 20th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.77%. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 17th. AmerisourceBergen’s payout ratio is presently 82.16%.
ABC has been the topic of several recent analyst reports. Needham & Company LLC boosted their target price on AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Jefferies Group set a $95.00 target price on AmerisourceBergen and gave the stock a “hold” rating in a report on Tuesday, August 29th. Robert W. Baird reissued a “buy” rating and set a $96.00 target price on shares of AmerisourceBergen in a report on Monday, November 6th. Mizuho set a $92.00 target price on AmerisourceBergen and gave the stock a “hold” rating in a report on Tuesday, October 24th. Finally, ValuEngine raised AmerisourceBergen from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. AmerisourceBergen presently has an average rating of “Buy” and a consensus price target of $91.95.
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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