Toronto Dominion Bank decreased its stake in AmerisourceBergen Corp. (NYSE:ABC) by 18.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,580 shares of the company’s stock after selling 25,628 shares during the quarter. Toronto Dominion Bank’s holdings in AmerisourceBergen were worth $9,426,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of ABC. Dimensional Fund Advisors LP boosted its stake in shares of AmerisourceBergen by 8.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 960,038 shares of the company’s stock worth $71,426,000 after buying an additional 73,642 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AmerisourceBergen by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 1,954,861 shares of the company’s stock worth $145,173,000 after buying an additional 114,505 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of AmerisourceBergen by 238.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 10,240 shares of the company’s stock worth $813,000 after buying an additional 7,218 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of AmerisourceBergen by 3.0% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 13,845 shares of the company’s stock worth $1,101,000 after buying an additional 400 shares during the last quarter. Finally, First Allied Advisory Services Inc. boosted its position in AmerisourceBergen by 3.0% during the first quarter. First Allied Advisory Services Inc. now owns 10,276 shares of the company’s stock worth $813,000 after purchasing an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 66.10% of the company’s stock.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 107,826 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the completion of the transaction, the chairman now owns 242,405 shares of the company’s stock, valued at $20,890,462.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $86.89, for a total value of $1,729,545.45. Following the transaction, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at approximately $13,423,114.76. The disclosure for this sale can be found here. Insiders have sold 186,215 shares of company stock valued at $16,240,235 in the last three months. Insiders own 27.80% of the company’s stock.
A number of equities analysts have issued reports on ABC shares. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. Morgan Stanley lowered their price target on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, September 6th. Deutsche Bank started coverage on AmerisourceBergen in a research report on Thursday. They set a “hold” rating and a $91.00 price target on the stock. Argus lowered their price target on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Finally, ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. AmerisourceBergen presently has a consensus rating of “Hold” and an average price target of $87.38.
ABC stock traded down $1.22 during mid-day trading on Friday, reaching $83.42. 1,226,087 shares of the company’s stock were exchanged, compared to its average volume of 1,142,129. The company has a market cap of $17.79 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.52 and a beta of 1.00. The stock’s 50 day moving average is $86.15 and its 200 day moving average is $81.99. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $94.85.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.14. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. During the same quarter in the prior year, the business posted $1.54 earnings per share. AmerisourceBergen’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts forecast that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. AmerisourceBergen’s payout ratio is currently 24.65%.
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.
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