AmerisourceBergen Co. (NYSE: ABC) Major shareholder Walgreens Boots Alliance, Inc. sells 6,000,000 shares
Walgreens Boots Alliance, Inc., principal shareholder of AmerisourceBergen Co. (NYSE: ABC – Get Rating), sold 6,000,000 shares of the company in a transaction dated Wednesday, May 11. The shares were sold at an average price of $150.00, for a total transaction of $900,000,000.00. Following the transaction, the insider now owns 52,854,867 shares of the company, valued at approximately $7,928,230,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Large shareholders who hold more than 10% of a company’s stock are required to disclose their transactions with the SEC.
NYSE ABC shares opened at $152.89 on Friday. The company’s 50-day moving average price is $155.67 and its 200-day moving average price is $139.32. The company has a market capitalization of $31.98 billion, a PE ratio of 18.65, a P/E/G ratio of 1.76 and a beta of 0.45. AmerisourceBergen Co. has a 52-week low of $111.34 and a 52-week high of $167.19. The company has a debt ratio of 5.13, a quick ratio of 0.56 and a current ratio of 0.92.
AmerisourceBergen (NYSE: ABC – Get Rating) last reported results on Wednesday, May 4. The company reported earnings per share (EPS) of $3.22 for the quarter, beating the consensus estimate of $2.99 by $0.23. The company posted revenue of $57.72 billion for the quarter, versus a consensus estimate of $57.26 billion. AmerisourceBergen had a net margin of 0.75% and a return on equity of 349.46%. The company’s revenue increased 17.4% year over year. In the same quarter a year earlier, the company posted earnings per share of $2.53. On average, analysts expect AmerisourceBergen Co. to post earnings per share of 10.94 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31. Investors of record on Monday, May 16 will receive a dividend of $0.46 per share. The ex-dividend date is Friday, May 13. This represents a dividend of $1.84 on an annualized basis and a yield of 1.20%. AmerisourceBergen’s dividend payout ratio (DPR) is 22.44%.
Institutional investors have recently changed their stock portfolios. Geode Capital Management LLC increased its position in AmerisourceBergen by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,621,661 shares of the company valued at $312,460,000 after purchasing an additional 27,191 shares during the period. LPL Financial LLC increased its position in AmerisourceBergen by 13.4% during the third quarter. LPL Financial LLC now owns 134,156 shares of the company valued at $16,025,000 after purchasing an additional 15,901 shares during the period. Fiera Capital Corp increased its position in AmerisourceBergen by 12.5% during the fourth quarter. Fiera Capital Corp now owns 3,300 shares of the company valued at $439,000 after purchasing an additional 367 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in AmerisourceBergen by 6.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 470,443 shares of the company valued at $62,517,000 after purchasing an additional 26,996 shares during the period. Finally, Maverick Capital Ltd. bought a new position in AmerisourceBergen during the third quarter valued at approximately $1,789,000. Institutional investors hold 64.17% of the company’s shares.
ABC has been the subject of a number of recent research reports. Morgan Stanley moved AmerisourceBergen shares from an “overweight” rating to an “equal weight” rating and raised its price target for the stock from $142.00 to $178.00 in a Tuesday report April 12. Robert W. Baird raised his price target on AmerisourceBergen shares from $179.00 to $187.00 in a Thursday, May 5 report. Deutsche Bank Aktiengesellschaft raised its price target on AmerisourceBergen shares from $153.00 to $168.00 in a Thursday, May 5 report. StockNews.com upgraded AmerisourceBergen shares from a “buy” rating to a “strong buy” rating in a Friday, May 6 report. Finally, Mizuho raised its price target on AmerisourceBergen shares from $139.00 to $162.00 in a Thursday, May 5 report. Five research analysts gave the stock a hold rating, two issued a buy rating and one gave the company’s stock a strong buy rating. According to MarketBeat.com, AmerisourceBergen has an average rating of “Buy” and an average target price of $164.57.
AmerisourceBergen Company Profile (Get an evaluation)
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes branded and generic pharmaceuticals, over-the-counter healthcare products, home care supplies and equipment and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail-order product pharmacies, medical clinics, long-term care pharmacies and alternative locations, and other customers.
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