AmerisourceBergen Corp. (NYSE:ABC) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Investors of record on Tuesday, February 20th will be paid a dividend of 0.38 per share on Monday, March 5th. This represents a $1.52 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, February 16th.
AmerisourceBergen has raised its dividend by an average of 14.0% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. AmerisourceBergen has a dividend payout ratio of 24.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AmerisourceBergen to earn $7.33 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 20.7%.
AmerisourceBergen (NYSE:ABC) opened at $96.40 on Thursday. AmerisourceBergen has a fifty-two week low of $71.90 and a fifty-two week high of $106.27. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.95 and a quick ratio of 0.50. The firm has a market cap of $21,477.04, a P/E ratio of 20.78, a P/E/G ratio of 1.56 and a beta of 1.02.
Several brokerages recently weighed in on ABC. Jefferies Group set a $95.00 price target on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Wednesday, February 7th. TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Thursday, February 8th. Needham & Company LLC dropped their price objective on shares of AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $112.00 price objective (up previously from $105.00) on shares of AmerisourceBergen in a research note on Wednesday, February 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $101.17.
In other news, insider Dale Danilewitz sold 4,459 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $78.30, for a total transaction of $349,139.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $85.73, for a total value of $994,468.00. Following the transaction, the chief financial officer now owns 56,436 shares in the company, valued at approximately $4,838,258.28. The disclosure for this sale can be found here. Insiders have sold a total of 205,355 shares of company stock worth $18,519,104 in the last quarter. Insiders own 27.30% of the company’s stock.
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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