11,100 Shares in AmerisourceBergen Corp. (ABC) Acquired by K.J. Harrison & Partners Inc
K.J. Harrison & Partners Inc bought a new stake in AmerisourceBergen Corp. (NYSE:ABC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,100 shares of the company’s stock, valued at approximately $880,000.
Other hedge funds have also bought and sold shares of the company. HealthInvest Partners AB acquired a new stake in AmerisourceBergen Corp. during the second quarter valued at about $12,691,000. PGGM Investments raised its stake in shares of AmerisourceBergen Corp. by 72.8% in the second quarter. PGGM Investments now owns 298,850 shares of the company’s stock valued at $23,705,000 after buying an additional 125,950 shares during the period. HL Financial Services LLC raised its stake in shares of AmerisourceBergen Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 2,949 shares of the company’s stock valued at $234,000 after buying an additional 34 shares during the period. JFS Wealth Advisors LLC raised its stake in shares of AmerisourceBergen Corp. by 1,487.3% in the second quarter. JFS Wealth Advisors LLC now owns 5,016 shares of the company’s stock valued at $398,000 after buying an additional 4,700 shares during the period. Finally, Albion Financial Group UT raised its stake in shares of AmerisourceBergen Corp. by 1.7% in the second quarter. Albion Financial Group UT now owns 3,884 shares of the company’s stock valued at $308,000 after buying an additional 66 shares during the period. 66.19% of the stock is currently owned by institutional investors.
AmerisourceBergen Corp. (NYSE:ABC) traded up 0.69% during midday trading on Thursday, reaching $83.59. 2,270,372 shares of the company’s stock were exchanged. AmerisourceBergen Corp. has a 12-month low of $73.31 and a 12-month high of $105.81. The stock has a market capitalization of $17.95 billion, a price-to-earnings ratio of 11.28 and a beta of 0.75. The stock’s 50-day moving average is $86.93 and its 200-day moving average is $83.52.
AmerisourceBergen Corp. (NYSE:ABC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.10. AmerisourceBergen Corp. had a net margin of 1.14% and a return on equity of 83.93%. The firm had revenue of $36.90 billion for the quarter, compared to the consensus estimate of $36.57 billion. During the same period last year, the firm earned $1.20 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that AmerisourceBergen Corp. will post $5.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, August 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.63%. AmerisourceBergen Corp.’s dividend payout ratio is presently 18.73%.
Several analysts have commented on ABC shares. Bank of America Corp. restated a “neutral” rating on shares of AmerisourceBergen Corp. in a report on Tuesday, June 7th. Credit Suisse Group AG restated a “buy” rating and issued a $98.00 price objective on shares of AmerisourceBergen Corp. in a report on Friday, August 26th. Zacks Investment Research lowered shares of AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. FBR & Co raised their price objective on shares of AmerisourceBergen Corp. from $84.00 to $90.00 and gave the stock a “mkt perform” rating in a report on Wednesday, August 3rd. Finally, Evercore ISI restated a “hold” rating and issued a $93.50 price objective on shares of AmerisourceBergen Corp. in a report on Tuesday, August 2nd. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. AmerisourceBergen Corp. presently has a consensus rating of “Hold” and an average price target of $97.50.
In other news, Director Lon R. Greenberg bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was bought at an average price of $88.59 per share, with a total value of $354,360.00. Following the completion of the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $841,605. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gina Clark sold 2,247 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $89.50, for a total transaction of $201,106.50. Following the sale, the insider now directly owns 9,436 shares of the company’s stock, valued at approximately $844,522. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
AmerisourceBergen Corp. Company Profile
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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