KBC Group NV Sells 10,213 Shares of AmerisourceBergen Corp. (ABC)
KBC Group NV cut its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,574 shares of the company’s stock after selling 10,213 shares during the period. KBC Group NV owned 0.05% of AmerisourceBergen Corp. worth $8,770,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABC. Park National Corp OH raised its position in AmerisourceBergen Corp. by 1.5% in the second quarter. Park National Corp OH now owns 4,058 shares of the company’s stock worth $322,000 after buying an additional 58 shares during the period. Osborn Rohs Williams & Donohoe Ltd raised its position in AmerisourceBergen Corp. by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 12,306 shares of the company’s stock worth $976,000 after buying an additional 147 shares during the last quarter. Triangle Securities Wealth Management purchased a new position in AmerisourceBergen Corp. during the second quarter worth $532,000. British Columbia Investment Management Corp raised its position in AmerisourceBergen Corp. by 9.7% in the second quarter. British Columbia Investment Management Corp now owns 100,276 shares of the company’s stock worth $7,954,000 after buying an additional 8,901 shares during the last quarter. Finally, DNB Asset Management AS raised its position in AmerisourceBergen Corp. by 0.8% in the second quarter. DNB Asset Management AS now owns 23,848 shares of the company’s stock worth $1,892,000 after buying an additional 200 shares during the last quarter. 63.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded down 1.38% on Tuesday, reaching $77.96. 1,288,069 shares of the company’s stock were exchanged. The company’s 50 day moving average is $77.62 and its 200-day moving average is $80.98. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 12.34 and a beta of 0.80. AmerisourceBergen Corp. has a one year low of $68.38 and a one year high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last posted its earnings results on Wednesday, November 2nd. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. The firm earned $37.60 billion during the quarter, compared to the consensus estimate of $37.97 billion. AmerisourceBergen Corp. had a return on equity of 68.70% and a net margin of 0.97%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 EPS. On average, analysts anticipate that AmerisourceBergen Corp. will post $5.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Monday, November 21st will be given a dividend of $0.365 per share. This is an increase from AmerisourceBergen Corp.’s previous quarterly dividend of $0.34. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, November 17th. AmerisourceBergen Corp.’s dividend payout ratio is currently 23.03%.
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ABC has been the topic of a number of recent analyst reports. TheStreet lowered shares of AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. Zacks Investment Research downgraded shares of AmerisourceBergen Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th. Leerink Swann restated a “buy” rating and set a $100.00 price objective on shares of AmerisourceBergen Corp. in a report on Friday, October 7th. Avondale Partners upgraded shares of AmerisourceBergen Corp. from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 4th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $89.00 target price on shares of AmerisourceBergen Corp. in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $94.11.
In other news, insider Kathy H. Gaddes sold 681 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $88.15, for a total transaction of $60,030.15. Following the completion of the transaction, the insider now directly owns 1,022 shares in the company, valued at approximately $90,089.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $69.85, for a total value of $1,047,750.00. Following the transaction, the chairman now owns 231,252 shares of the company’s stock, valued at $16,152,952.20. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
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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