Investors bought shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) on weakness during trading on Thursday following insider selling activity. $51.44 million flowed into the stock on the tick-up and $22.04 million flowed out of the stock on the tick-down, for a money net flow of $29.40 million into the stock. Of all stocks tracked, AmerisourceBergen had the 15th highest net in-flow for the day. AmerisourceBergen traded down ($0.06) for the day and closed at $85.93Specifically, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total transaction of $921,852.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dale Danilewitz sold 1,857 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $74.69, for a total value of $138,699.33. The disclosure for this sale can be found here. Insiders have sold a total of 168,407 shares of company stock valued at $13,569,358 over the last three months. Corporate insiders own 27.40% of the company’s stock.
A number of brokerages recently issued reports on ABC. Robert W. Baird set a $99.00 price objective on AmerisourceBergen and gave the stock a “buy” rating in a research report on Friday, December 1st. Deutsche Bank started coverage on AmerisourceBergen in a research report on Monday. They set a “buy” rating and a $97.00 price objective for the company. Morgan Stanley downgraded AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 14th. Zacks Investment Research downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Needham & Company LLC set a $93.00 target price on AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $91.95.
The company has a market cap of $18,731.06, a PE ratio of 14.58, a price-to-earnings-growth 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.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Friday, November 17th. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio (DPR) is presently 82.16%.
Institutional investors and hedge funds have recently made changes to their positions in the company. First Merchants Corp boosted its stake in shares of AmerisourceBergen by 160.5% in the 3rd quarter. First Merchants Corp now owns 27,342 shares of the company’s stock valued at $2,262,000 after buying an additional 16,848 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of AmerisourceBergen by 23.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,459 shares of the company’s stock valued at $369,000 after buying an additional 842 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of AmerisourceBergen by 17.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 494,216 shares of the company’s stock valued at $40,896,000 after buying an additional 72,743 shares during the period. Achmea Investment Management B.V. boosted its stake in shares of AmerisourceBergen by 7.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,338 shares of the company’s stock valued at $2,770,000 after buying an additional 2,123 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its stake in shares of AmerisourceBergen by 3.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,649,123 shares of the company’s stock valued at $250,422,000 after buying an additional 84,163 shares during the period. Institutional investors and hedge funds own 67.83% of the company’s stock.
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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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