Sarasin & Partners LLP Invests $97,639,000 in AmerisourceBergen Corp. (ABC)
Sarasin & Partners LLP purchased a new position in shares of AmerisourceBergen Corp. (NYSE:ABC) during the third quarter, Holdings Channel reports. The fund purchased 1,208,708 shares of the company’s stock, valued at approximately $97,639,000. AmerisourceBergen Corp. accounts for about 1.5% of Sarasin & Partners LLP’s portfolio, making the stock its 28th largest position.
A number of other large investors also recently made changes to their positions in ABC. MAI Capital Management boosted its stake in shares of AmerisourceBergen Corp. by 51.5% in the second quarter. MAI Capital Management now owns 3,641 shares of the company’s stock worth $289,000 after buying an additional 1,237 shares during the period. Beacon Financial Group bought a new stake in shares of AmerisourceBergen Corp. during the second quarter worth $401,000. Breton Hill Capital Ltd. bought a new stake in shares of AmerisourceBergen Corp. during the second quarter worth $206,000. Creative Planning boosted its stake in shares of AmerisourceBergen Corp. by 1.6% in the second quarter. Creative Planning now owns 9,021 shares of the company’s stock worth $716,000 after buying an additional 138 shares during the period. Finally, Atria Investments LLC bought a new stake in shares of AmerisourceBergen Corp. during the second quarter worth $488,000. 63.44% of the stock is owned by hedge funds and other institutional investors.
Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at 77.63 on Wednesday. The firm has a 50 day moving average of $77.62 and a 200 day moving average of $80.98. AmerisourceBergen Corp. has a one year low of $68.38 and a one year high of $105.81. The stock has a market cap of $17.09 billion, a P/E ratio of 12.28 and a beta of 0.80.
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $1.30 earnings per share (EPS) 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 had revenue of $37.60 billion for the quarter, compared to the consensus estimate of $37.97 billion. During the same period last year, the firm posted $1.21 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts predict that AmerisourceBergen Corp. will post $5.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Investors of record on Monday, November 21st will be given a $0.365 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This is an increase from AmerisourceBergen Corp.’s previous quarterly dividend of $0.34. This represents a $1.46 annualized dividend and a yield of 1.88%. AmerisourceBergen Corp.’s dividend payout ratio (DPR) is currently 23.03%.
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A number of brokerages have recently commented on ABC. Barclays PLC upped their target price on shares of AmerisourceBergen Corp. from $83.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Evercore ISI reaffirmed a “hold” rating and issued a $93.50 target price on shares of AmerisourceBergen Corp. in a report on Tuesday, August 2nd. Citigroup Inc. upped their target price on shares of AmerisourceBergen Corp. from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Mizuho upped their target price on shares of AmerisourceBergen Corp. from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Finally, Leerink Swann reaffirmed a “buy” rating on shares of AmerisourceBergen Corp. in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $94.11.
In related news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corp. 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 sale, the chairman now directly owns 231,252 shares in the company, valued at approximately $18,405,346.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kathy H. Gaddes sold 681 shares of AmerisourceBergen Corp. stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $88.15, for a total transaction of $60,030.15. Following the completion of the sale, the insider now owns 1,022 shares in the company, 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.
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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