AmerisourceBergen Corp. (NYSE:ABC) Shares Acquired by Poplar Forest Capital LLC
Poplar Forest Capital LLC grew its stake in AmerisourceBergen Corp. (NYSE:ABC) by 9.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 763,559 shares of the company’s stock after acquiring an additional 66,987 shares during the quarter. AmerisourceBergen comprises approximately 4.7% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 4th biggest position. Poplar Forest Capital LLC owned about 0.36% of AmerisourceBergen worth $65,101,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of ABC. Alpha Windward LLC grew its position in AmerisourceBergen by 6.6% in the 2nd quarter. Alpha Windward LLC now owns 1,845 shares of the company’s stock valued at $161,000 after acquiring an additional 114 shares in the last quarter. Capital Wealth Planning LLC grew its position in AmerisourceBergen by 1.1% in the 2nd quarter. Capital Wealth Planning LLC now owns 10,236 shares of the company’s stock valued at $873,000 after acquiring an additional 115 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in AmerisourceBergen by 1.1% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,424 shares of the company’s stock valued at $988,000 after acquiring an additional 138 shares in the last quarter. Rothschild Investment Corp IL grew its position in AmerisourceBergen by 1.1% in the 2nd quarter. Rothschild Investment Corp IL now owns 12,345 shares of the company’s stock valued at $1,053,000 after acquiring an additional 140 shares in the last quarter. Finally, Hartford Investment Management Co. grew its position in AmerisourceBergen by 0.8% in the 2nd quarter. Hartford Investment Management Co. now owns 18,286 shares of the company’s stock valued at $1,559,000 after acquiring an additional 151 shares in the last quarter. 66.03% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on ABC. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Wednesday, June 12th. Finally, Argus dropped their target price on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $88.00.
Shares of ABC traded up $1.77 during midday trading on Friday, hitting $87.34. The company had a trading volume of 811,800 shares, compared to its average volume of 1,393,464. The company’s 50-day simple moving average is $87.43 and its 200-day simple moving average is $82.00. 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 firm has a market capitalization of $18.07 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.54 and a beta of 0.97. AmerisourceBergen Corp. has a 1 year low of $69.36 and a 1 year high of $94.85.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.14. The business had revenue of $45.24 billion during the quarter, compared to analysts’ expectations of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 EPS. Equities analysts predict that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Friday, August 16th. AmerisourceBergen’s payout ratio is presently 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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