AmerisourceBergen Corp. (NYSE:ABC) Plans $0.40 Quarterly Dividend

AmerisourceBergen Corp. (NYSE:ABC) declared a quarterly dividend on Thursday, November 7th, RTT News reports. Shareholders of record on Monday, November 18th will be paid a dividend of 0.40 per share on Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.90%.

Shares of ABC opened at $84.08 on Friday. AmerisourceBergen has a 12-month low of $69.36 and a 12-month high of $94.75. The business has a 50-day simple moving average of $84.47 and a two-hundred day simple moving average of $83.67. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. The stock has a market cap of $18.10 billion, a PE ratio of 12.96, a PEG ratio of 1.44 and a beta of 0.98.

AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, November 7th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.03. The business had revenue of $45.64 billion during the quarter, compared to analysts’ expectations of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 EPS. On average, equities research analysts expect that AmerisourceBergen will post 7.05 EPS for the current year.

Several equities research analysts have recently weighed in on the company. ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Deutsche Bank assumed coverage on AmerisourceBergen in a research note on Thursday, September 12th. They issued a “hold” rating and a $91.00 price target for the company. Finally, Morgan Stanley decreased their price target on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $87.38.

In related news, EVP John G. Chou sold 13,997 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $86.29, for a total transaction of $1,207,801.13. Following the completion of the sale, the executive vice president now owns 65,782 shares of the company’s stock, valued at $5,676,328.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gina Clark sold 7,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $84.96, for a total value of $662,688.00. Following the sale, the executive vice president now directly owns 23,595 shares of the company’s stock, valued at approximately $2,004,631.20. The disclosure for this sale can be found here. In the last three months, insiders sold 95,509 shares of company stock valued at $8,088,531. Insiders own 27.80% of the company’s stock.

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.

See Also: What is the QQQ ETF?

Dividend History for AmerisourceBergen (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.