IFM Investors Pty Ltd lifted its stake in shares of AmerisourceBergen Co. (NYSE:ABC – Get Rating) by 7.3% during the second quarter, Holdings Channel reports. The firm owned 26,575 shares of the company's stock after purchasing an additional 1,816 shares during the quarter. IFM Investors Pty Ltd's holdings in AmerisourceBergen were worth $3,760,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of AmerisourceBergen by 7.4% during the first quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company's stock worth $2,848,446,000 after purchasing an additional 1,269,147 shares during the period. BlackRock Inc. raised its position in shares of AmerisourceBergen by 26.2% during the first quarter. BlackRock Inc. now owns 16,455,417 shares of the company's stock worth $2,545,819,000 after purchasing an additional 3,419,393 shares during the period. State Street Corp raised its position in shares of AmerisourceBergen by 1.8% during the first quarter. State Street Corp now owns 6,931,262 shares of the company's stock worth $1,072,336,000 after purchasing an additional 123,695 shares during the period. Boston Partners raised its position in shares of AmerisourceBergen by 0.4% during the first quarter. Boston Partners now owns 4,672,437 shares of the company's stock worth $723,488,000 after purchasing an additional 18,023 shares during the period. Finally, Invesco Ltd. raised its position in shares of AmerisourceBergen by 42.3% during the first quarter. Invesco Ltd. now owns 2,079,491 shares of the company's stock worth $321,717,000 after purchasing an additional 618,248 shares during the period. 64.17% of the stock is owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of the business's stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $144.25, for a total value of $1,655,990.00. Following the completion of the sale, the chief executive officer now owns 205,178 shares of the company's stock, valued at $29,596,926.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 34,440 shares of company stock valued at $4,924,920 over the last quarter. Insiders own 28.40% of the company's stock.
AmerisourceBergen Price Performance
Shares of NYSE:ABC opened at $137.20 on Friday. AmerisourceBergen Co. has a fifty-two week low of $113.68 and a fifty-two week high of $167.19. The business has a 50-day moving average of $144.92 and a two-hundred day moving average of $149.08. The stock has a market capitalization of $28.44 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.55 and a beta of 0.46. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.92 and a quick ratio of 0.55.
AmerisourceBergen (NYSE:ABC – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $2.62 earnings per share for the quarter, topping analysts' consensus estimates of $2.57 by $0.05. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The company had revenue of $60.06 billion during the quarter, compared to analysts' expectations of $59.03 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The business's quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts predict that AmerisourceBergen Co. will post 11 EPS for the current fiscal year.
AmerisourceBergen Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.34%. AmerisourceBergen's dividend payout ratio is currently 21.10%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. UBS Group boosted their target price on AmerisourceBergen from $144.00 to $174.00 and gave the stock a "buy" rating in a research report on Monday, June 13th. Cowen lowered their price target on AmerisourceBergen from $171.00 to $170.00 and set an "outperform" rating on the stock in a report on Thursday, June 9th. Cowen lowered their price target on AmerisourceBergen from $171.00 to $170.00 in a report on Thursday, June 9th. StockNews.com upgraded AmerisourceBergen from a "buy" rating to a "strong-buy" rating in a report on Tuesday, August 9th. Finally, Credit Suisse Group lowered their price target on AmerisourceBergen from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Thursday, August 4th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $173.55.
AmerisourceBergen Profile
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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, 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 alternate site pharmacies, and other customers.
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