Prudential Financial Inc. increased its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 12.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 278,105 shares of the company’s stock after buying an additional 30,135 shares during the period. Prudential Financial Inc. owned approximately 0.13% of AmerisourceBergen Corp. worth $22,059,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ABC. Haverford Financial Services Inc. boosted its stake in shares of AmerisourceBergen Corp. by 57.2% in the first quarter. Haverford Financial Services Inc. now owns 52,704 shares of the company’s stock valued at $4,562,000 after buying an additional 19,186 shares during the last quarter. BlackRock Japan Co. Ltd boosted its position in AmerisourceBergen Corp. by 4.0% in the first quarter. BlackRock Japan Co. Ltd now owns 448,731 shares of the company’s stock worth $38,838,000 after buying an additional 17,154 shares in the last quarter. BlackRock Fund Advisors boosted its position in AmerisourceBergen Corp. by 6.3% in the first quarter. BlackRock Fund Advisors now owns 4,497,493 shares of the company’s stock worth $389,258,000 after buying an additional 265,727 shares in the last quarter. BlackRock Group LTD boosted its position in AmerisourceBergen Corp. by 2.2% in the first quarter. BlackRock Group LTD now owns 2,731,104 shares of the company’s stock worth $236,377,000 after buying an additional 58,866 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its position in AmerisourceBergen Corp. by 1.7% in the first quarter. Mckinley Capital Management LLC Delaware now owns 101,709 shares of the company’s stock worth $8,803,000 after buying an additional 1,687 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded up 0.10% during midday trading on Monday, hitting $83.41. The stock had a trading volume of 482,271 shares. AmerisourceBergen Corp. has a one year low of $73.31 and a one year high of $105.81. The company has a market cap of $17.91 billion, a P/E ratio of 11.25 and a beta of 0.75. The stock has a 50 day moving average of $86.77 and a 200-day moving average of $83.49.
AmerisourceBergen Corp. (NYSE:ABC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.10. AmerisourceBergen Corp. had a net margin of 1.14% and a return on equity of 83.93%. The company earned $36.90 billion during the quarter, compared to analyst estimates of $36.57 billion. During the same quarter in the previous year, the business earned $1.20 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that AmerisourceBergen Corp. will post $5.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, August 18th. AmerisourceBergen Corp.’s dividend payout ratio (DPR) is 18.73%.
ABC has been the subject of a number of research analyst reports. Morgan Stanley reiterated a “hold” rating and set a $89.00 price target on shares of AmerisourceBergen Corp. in a report on Monday, September 12th. Credit Suisse Group AG reiterated a “buy” rating and set a $98.00 price target on shares of AmerisourceBergen Corp. in a report on Friday, August 26th. Bank of America Corp. reiterated a “neutral” rating on shares of AmerisourceBergen Corp. in a report on Tuesday, June 7th. Zacks Investment Research cut AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, FBR & Co increased their price target on AmerisourceBergen Corp. from $84.00 to $90.00 and gave the stock a “mkt perform” rating in a report on Wednesday, August 3rd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $97.50.
In related news, insider Gina Clark sold 2,247 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $89.50, for a total value of $201,106.50. Following the completion of the transaction, the insider now directly owns 9,436 shares of the company’s stock, valued at approximately $844,522. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henry Wadsworth Mcgee III sold 3,351 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $82.10, for a total transaction of $275,117.10. Following the completion of the transaction, the director now directly owns 10,901 shares of the company’s stock, valued at $894,972.10. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.
About AmerisourceBergen Corp.
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.
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