Qube Research & Technologies Ltd purchased a new stake in shares of AmerisourceBergen Corp. (NYSE:ABC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,436 shares of the company’s stock, valued at approximately $464,000.
Several other hedge funds have also recently added to or reduced their stakes in ABC. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of AmerisourceBergen during the second quarter valued at approximately $99,092,000. Ceredex Value Advisors LLC purchased a new position in AmerisourceBergen during the first quarter valued at approximately $80,607,000. Millennium Management LLC grew its position in AmerisourceBergen by 183.5% during the second quarter. Millennium Management LLC now owns 1,145,365 shares of the company’s stock valued at $97,665,000 after purchasing an additional 741,391 shares in the last quarter. BlackRock Inc. grew its position in AmerisourceBergen by 4.6% during the second quarter. BlackRock Inc. now owns 12,776,453 shares of the company’s stock valued at $1,089,447,000 after purchasing an additional 557,312 shares in the last quarter. Finally, Coho Partners Ltd. grew its position in AmerisourceBergen by 43.5% during the first quarter. Coho Partners Ltd. now owns 1,618,391 shares of the company’s stock valued at $139,522,000 after purchasing an additional 490,607 shares in the last quarter. Institutional investors and hedge funds own 66.77% of the company’s stock.
ABC stock opened at $85.84 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.94 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. AmerisourceBergen Corp. has a 12 month low of $71.90 and a 12 month high of $106.27.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Monday, August 20th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, August 17th. AmerisourceBergen’s dividend payout ratio is 25.85%.
In other AmerisourceBergen news, CEO Steven H. Collis sold 21,350 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $88.33, for a total value of $1,885,845.50. Following the completion of the sale, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at $25,432,415.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dale Danilewitz sold 3,120 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $81.67, for a total transaction of $254,810.40. Following the completion of the sale, the executive vice president now directly owns 3,120 shares of the company’s stock, valued at $254,810.40. The disclosure for this sale can be found here. Insiders sold 96,587 shares of company stock valued at $8,191,700 over the last three months. Insiders own 27.30% of the company’s stock.
A number of research analysts recently commented on ABC shares. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. Morgan Stanley lowered their price objective on shares of AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 3rd. Robert W. Baird reaffirmed a “neutral” rating and set a $94.00 price objective on shares of AmerisourceBergen in a research report on Friday, July 20th. Finally, Mizuho reaffirmed a “hold” rating and set a $90.00 price objective on shares of AmerisourceBergen in a research report on Sunday, August 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $101.80.
AmerisourceBergen Company Profile
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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