Vident Investment Advisory LLC purchased a new stake in AmerisourceBergen Corp. (NYSE:ABC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,204 shares of the company’s stock, valued at approximately $762,000.
Several other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in AmerisourceBergen by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after acquiring an additional 34 shares in the last quarter. Sun Life Financial INC raised its holdings in AmerisourceBergen by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after acquiring an additional 1,200 shares in the last quarter. D.A. Davidson & CO. raised its holdings in AmerisourceBergen by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after acquiring an additional 375 shares in the last quarter. Intl Fcstone Inc. bought a new stake in AmerisourceBergen during the second quarter worth about $201,000. Finally, Pinnacle Associates Ltd. bought a new stake in AmerisourceBergen during the second quarter worth about $203,000. Institutional investors own 67.94% of the company’s stock.
Several analysts recently issued reports on ABC shares. Needham & Company LLC upped 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 reiterated 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 upgraded AmerisourceBergen from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen has an average rating of “Buy” and an average price target of $93.20.
Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at $89.31 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48. The stock has a market capitalization of $19,295.90, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00. AmerisourceBergen Corp. has a 52 week low of $71.90 and a 52 week high of $97.85.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $40.10 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. equities research analysts forecast that AmerisourceBergen Corp. will post 6.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were given a $0.38 dividend. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.52 annualized dividend and a dividend yield of 1.70%. AmerisourceBergen’s dividend payout ratio is presently 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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