Mackenzie Financial Corp Buys 7,151 Shares of AmerisourceBergen Corporation (Holding Co) (ABC)
Mackenzie Financial Corp lifted its stake in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,817 shares of the company’s stock after purchasing an additional 7,151 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of AmerisourceBergen worth $11,487,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of AmerisourceBergen by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after purchasing an additional 34 shares in the last quarter. Savant Capital LLC grew its holdings in shares of AmerisourceBergen by 0.8% during the second quarter. Savant Capital LLC now owns 4,846 shares of the company’s stock worth $458,000 after buying an additional 40 shares during the last quarter. Stephens Inc. AR boosted its holdings in AmerisourceBergen by 1.5% in the 2nd quarter. Stephens Inc. AR now owns 5,141 shares of the company’s stock valued at $486,000 after purchasing an additional 77 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in AmerisourceBergen by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,329 shares of the company’s stock valued at $1,165,000 after purchasing an additional 80 shares in the last quarter. Finally, Buckingham Asset Management LLC boosted its holdings in AmerisourceBergen by 4.3% in the 2nd quarter. Buckingham Asset Management LLC now owns 2,447 shares of the company’s stock valued at $231,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 67.83% of the company’s stock.
Several brokerages have weighed in on ABC. Needham & Company LLC boosted their price target on AmerisourceBergen from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Royal Bank Of Canada started coverage on shares of AmerisourceBergen in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $87.00 price target for the company. Morgan Stanley cut shares of AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 14th. Zacks Investment Research upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Finally, Jefferies Group set a $95.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a research report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $91.95.
In other AmerisourceBergen news, insider Peyton R. Howell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $86.20, for a total value of $258,600.00. Following the sale, the insider now directly owns 49,189 shares in the company, valued at $4,240,091.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $79.47, for a total value of $921,852.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,407 shares of company stock valued at $13,569,358. Corporate insiders own 27.40% of the company’s stock.
Shares of AmerisourceBergen Corporation (ABC) opened at $85.93 on Friday. The stock has a market capitalization of $18,752.87, a P/E ratio of 14.60, a P/E/G ratio of 1.49 and a beta of 1.00. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. AmerisourceBergen Corporation has a 12 month low of $71.90 and a 12 month high of $97.85.
AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion during the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. equities analysts forecast that AmerisourceBergen Corporation will post 6.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.77%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 17th. AmerisourceBergen’s payout ratio is presently 82.16%.
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AmerisourceBergen Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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