AmerisourceBergen Corp. (NYSE:ABC) EVP John G. Chou sold 6,974 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $83.94, for a total value of $585,397.56. Following the transaction, the executive vice president now owns 56,126 shares of the company’s stock, valued at $4,711,216.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

ABC stock traded up $0.90 during midday trading on Friday, hitting $87.72. The company’s stock had a trading volume of 98,951 shares, compared to its average volume of 1,696,960. AmerisourceBergen Corp. has a 12 month low of $71.90 and a 12 month high of $106.27. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.94 and a quick ratio of 0.51. The company has a market capitalization of $17.74 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.28 and a beta of 1.00.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.08. AmerisourceBergen had a return on equity of 48.65% and a net margin of 0.69%. The business had revenue of $43.14 billion during the quarter, compared to the consensus estimate of $43.05 billion. During the same period in the prior year, the company posted $1.43 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. sell-side analysts anticipate that AmerisourceBergen Corp. will post 6.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Monday, August 20th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 17th. This represents a $1.52 annualized dividend and a yield of 1.73%. AmerisourceBergen’s payout ratio is 25.85%.

Several institutional investors and hedge funds have recently modified their holdings of the company. River Wealth Advisors LLC raised its holdings in shares of AmerisourceBergen by 1.6% during the 1st quarter. River Wealth Advisors LLC now owns 34,764 shares of the company’s stock worth $2,997,000 after acquiring an additional 561 shares in the last quarter. State Treasurer State of Michigan raised its holdings in AmerisourceBergen by 1.3% during the 1st quarter. State Treasurer State of Michigan now owns 47,884 shares of the company’s stock valued at $4,128,000 after buying an additional 600 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in AmerisourceBergen by 54.8% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,698 shares of the company’s stock valued at $146,000 after buying an additional 601 shares during the period. Parsons Capital Management Inc. RI raised its holdings in AmerisourceBergen by 5.7% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 11,609 shares of the company’s stock valued at $990,000 after buying an additional 621 shares during the period. Finally, Donald L. Hagan LLC raised its holdings in AmerisourceBergen by 3.9% during the 2nd quarter. Donald L. Hagan LLC now owns 16,681 shares of the company’s stock valued at $1,422,000 after buying an additional 622 shares during the period. 66.68% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on ABC. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Morgan Stanley cut their price objective on AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 3rd. Robert W. Baird downgraded AmerisourceBergen from an “outperform” rating to a “neutral” rating in a research note on Friday, July 20th. Finally, Mizuho reiterated a “hold” rating and set a $90.00 price objective on shares of AmerisourceBergen in a research note on Sunday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. AmerisourceBergen presently has a consensus rating of “Hold” and an average price target of $101.80.

About AmerisourceBergen

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.

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