Bbva Compass Bancshares Inc. Lowers Stake in AmerisourceBergen Corp. (ABC)
Bbva Compass Bancshares Inc. reduced its stake in AmerisourceBergen Corp. (NYSE:ABC) by 8.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,186 shares of the company’s stock after selling 4,556 shares during the period. Bbva Compass Bancshares Inc.’s holdings in AmerisourceBergen Corp. were worth $3,811,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. HealthInvest Partners AB bought a new position in shares of AmerisourceBergen Corp. during the second quarter valued at approximately $12,691,000. Channing Capital Management LLC raised its position in shares of AmerisourceBergen Corp. by 17.5% in the second quarter. Channing Capital Management LLC now owns 186,898 shares of the company’s stock valued at $14,825,000 after buying an additional 27,866 shares during the period. Concert Wealth Management Inc. raised its position in shares of AmerisourceBergen Corp. by 13.2% in the second quarter. Concert Wealth Management Inc. now owns 6,674 shares of the company’s stock valued at $536,000 after buying an additional 777 shares during the period. First Niagara Bank raised its position in shares of AmerisourceBergen Corp. by 3.9% in the second quarter. First Niagara Bank now owns 21,251 shares of the company’s stock valued at $1,686,000 after buying an additional 798 shares during the period. Finally, Edmp Inc. bought a new position in shares of AmerisourceBergen Corp. during the second quarter valued at approximately $926,000. Institutional investors and hedge funds own 63.44% of the company’s stock.
AmerisourceBergen Corp. (NYSE:ABC) traded up 0.46% during trading on Wednesday, hitting $77.99. 5,158,879 shares of the company were exchanged. The stock has a market capitalization of $17.17 billion, a PE ratio of 12.34 and a beta of 0.80. AmerisourceBergen Corp. has a 1-year low of $68.38 and a 1-year high of $105.81. The firm’s 50 day moving average price is $77.56 and its 200-day moving average price is $81.01.
AmerisourceBergen Corp. (NYSE:ABC) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.07. AmerisourceBergen Corp. had a net margin of 0.97% and a return on equity of 68.70%. The company earned $37.60 billion during the quarter, compared to analyst estimates of $37.97 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities analysts predict that AmerisourceBergen Corp. will post $5.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Investors of record on Monday, November 21st will be paid a $0.365 dividend. The ex-dividend date is Thursday, November 17th. This is a positive change from AmerisourceBergen Corp.’s previous quarterly dividend of $0.34. This represents a $1.46 dividend on an annualized basis and a yield of 1.87%. AmerisourceBergen Corp.’s dividend payout ratio is 23.03%.
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Several research analysts have commented on ABC shares. TheStreet lowered shares of AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. Zacks Investment Research lowered shares of AmerisourceBergen Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 25th. Leerink Swann reiterated a “buy” rating and issued a $100.00 price target on shares of AmerisourceBergen Corp. in a research note 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 price target 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 assigned a buy rating to the company’s stock. AmerisourceBergen Corp. has an average rating of “Hold” and a consensus price target of $94.11.
In other AmerisourceBergen Corp. news, Chairman Steven H. Collis sold 15,000 shares of the business’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $79.59, for a total value of $1,193,850.00. Following the completion of the transaction, the chairman now directly owns 231,252 shares in the company, valued at $18,405,346.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathy H. Gaddes sold 681 shares of the business’s stock in a transaction dated 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 owns 1,022 shares of the company’s stock, valued at $90,089.30. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate 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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