Argent Trust Co boosted its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 8.4% during the 4th quarter, HoldingsChannel reports. The fund owned 20,606 shares of the company’s stock after buying an additional 1,603 shares during the period. Argent Trust Co’s holdings in AmerisourceBergen were worth $1,532,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Private Capital Group LLC raised its position in shares of AmerisourceBergen by 201.3% in the 4th quarter. Private Capital Group LLC now owns 482 shares of the company’s stock valued at $36,000 after purchasing an additional 322 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of AmerisourceBergen in the 4th quarter valued at approximately $54,000. Exane Asset Management purchased a new position in shares of AmerisourceBergen in the 4th quarter valued at approximately $73,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of AmerisourceBergen by 140.9% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock valued at $105,000 after purchasing an additional 668 shares during the last quarter. Finally, Financial Gravity Wealth Inc. raised its position in shares of AmerisourceBergen by 93.2% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock valued at $108,000 after purchasing an additional 605 shares during the last quarter. Institutional investors own 68.51% of the company’s stock.
Several brokerages recently commented on ABC. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. Royal Bank of Canada decreased their price objective on shares of AmerisourceBergen from $90.00 to $87.00 and set a “hold” rating for the company in a research report on Friday, November 30th. Morgan Stanley raised their price target on shares of AmerisourceBergen from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Monday, December 3rd. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Finally, UBS Group started coverage on shares of AmerisourceBergen in a research report on Thursday, January 17th. They set a “buy” rating and a $89.00 price target for the company. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $96.00.
In other news, insider Dale Danilewitz sold 5,703 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $86.80, for a total transaction of $495,020.40. Following the sale, the insider now owns 8,960 shares of the company’s stock, valued at approximately $777,728. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kathy H. Gaddes sold 2,652 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $90.54, for a total transaction of $240,112.08. Following the sale, the insider now directly owns 4,591 shares in the company, valued at approximately $415,669.14. The disclosure for this sale can be found here. Insiders have sold a total of 136,178 shares of company stock worth $11,478,686 in the last ninety days. Corporate insiders own 27.80% of the company’s stock.
ABC opened at $86.41 on Thursday. AmerisourceBergen Corp. has a 12-month low of $69.36 and a 12-month high of $101.56. The company has a quick ratio of 0.53, a current ratio of 0.94 and a debt-to-equity ratio of 1.43. The company has a market cap of $17.81 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, January 31st. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.10. AmerisourceBergen had a net margin of 0.69% and a return on equity of 44.53%. The company had revenue of $45.39 billion during the quarter, compared to analyst estimates of $43.52 billion. Analysts expect that AmerisourceBergen Corp. will post 6.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Shareholders of record on Tuesday, February 19th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, February 15th. AmerisourceBergen’s dividend payout ratio is presently 24.65%.
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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, 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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