AmerisourceBergen Corp. (NYSE:ABC) declared a quarterly dividend on Thursday, August 8th, RTT News reports. Investors of record on Monday, August 19th will be given a dividend of 0.40 per share on Tuesday, September 3rd. This represents a $1.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, August 16th.
AmerisourceBergen has increased its dividend by an average of 8.4% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. AmerisourceBergen has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect AmerisourceBergen to earn $7.54 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 21.2%.
ABC stock opened at $89.26 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. The stock has a 50 day moving average of $87.31. The company has a market capitalization of $18.78 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.57 and a beta of 0.97. AmerisourceBergen has a 1-year low of $69.36 and a 1-year high of $94.85.
Several research analysts recently weighed in on ABC shares. Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Wednesday, June 12th. TheStreet upgraded shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Finally, Argus reduced their price target on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $88.00.
In other news, Director Henry Wadsworth Mcgee III sold 10,585 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $91.97, for a total transaction of $973,502.45. Following the completion of the sale, the director now owns 24,510 shares of the company’s stock, valued at $2,254,184.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard W. Gochnauer sold 5,500 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.69, for a total value of $443,795.00. Following the sale, the director now directly owns 12,364 shares of the company’s stock, valued at approximately $997,651.16. The disclosure for this sale can be found here. Insiders have sold 191,379 shares of company stock worth $16,502,190 over the last quarter. Company insiders own 27.80% of the company’s stock.
AmerisourceBergen Company Profile
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, outsourced compounded sterile preparations, 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 other alternate site pharmacies, and other customers.
Featured Story: What are momentum indicators and what do they show?
Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.