Qube Research & Technologies Ltd Buys New Holdings in AmerisourceBergen Corp. (NYSE:ABC)

Qube Research & Technologies Ltd bought a new stake in AmerisourceBergen Corp. (NYSE:ABC) in the 2nd quarter, Holdings Channel.com reports. The firm bought 9,562 shares of the company’s stock, valued at approximately $815,000.

Other large investors have also recently modified their holdings of the company. Yorktown Management & Research Co Inc lifted its position in AmerisourceBergen by 7.9% during the second quarter. Yorktown Management & Research Co Inc now owns 9,600 shares of the company’s stock worth $818,000 after acquiring an additional 700 shares during the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in AmerisourceBergen by 1.1% during the second quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 21,180 shares of the company’s stock worth $1,806,000 after acquiring an additional 230 shares during the last quarter. Capital Wealth Planning LLC lifted its position in AmerisourceBergen by 1.1% during the second quarter. Capital Wealth Planning LLC now owns 10,236 shares of the company’s stock worth $873,000 after acquiring an additional 115 shares during the last quarter. Comerica Bank lifted its position in AmerisourceBergen by 3.4% during the second quarter. Comerica Bank now owns 37,077 shares of the company’s stock worth $3,168,000 after acquiring an additional 1,211 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in AmerisourceBergen by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 199,888 shares of the company’s stock worth $17,042,000 after acquiring an additional 10,923 shares during the last quarter. Institutional investors and hedge funds own 65.03% of the company’s stock.

Several brokerages have issued reports on ABC. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Argus cut their price objective on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. TheStreet upgraded shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $88.00.

Shares of NYSE ABC traded up $1.05 during midday trading on Monday, reaching $88.39. The company’s stock had a trading volume of 8,266 shares, compared to its average volume of 1,393,464. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. AmerisourceBergen Corp. has a fifty-two week low of $69.36 and a fifty-two week high of $94.85. The business’s 50 day moving average price is $87.43 and its two-hundred day moving average price is $82.00. The company has a market cap of $18.07 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.54 and a beta of 0.97.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.14. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The company had revenue of $45.24 billion during the quarter, compared to the consensus estimate of $45.15 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be given a $0.40 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.81%. AmerisourceBergen’s payout ratio is 24.65%.

In other news, Chairman Steven H. Collis sold 107,826 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $86.18, for a total value of $9,292,444.68. Following the completion of the sale, the chairman now directly owns 242,405 shares in the company, valued at $20,890,462.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert P. Mauch sold 24,767 shares of AmerisourceBergen stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $81.16, for a total transaction of $2,010,089.72. Following the completion of the sale, the executive vice president now owns 43,286 shares of the company’s stock, valued at $3,513,091.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,379 shares of company stock valued at $16,502,190. 27.80% of the stock is owned by company insiders.

AmerisourceBergen 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.

Read More: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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