Investors Purchase High Volume of Call Options on AmerisourceBergen (NYSE:ABC)

AmerisourceBergen Corp. (NYSE:ABC) saw some unusual options trading activity on Thursday. Stock investors acquired 9,809 call options on the company. This is an increase of 3,747% compared to the typical volume of 255 call options.

In other AmerisourceBergen news, insider John G. Chou sold 13,997 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.58, for a total value of $1,253,851.26. Following the completion of the sale, the insider now directly owns 65,782 shares of the company’s stock, valued at approximately $5,892,751.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dale Danilewitz sold 543 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $81.16, for a total transaction of $44,069.88. Following the completion of the sale, the insider now directly owns 1,085 shares of the company’s stock, valued at $88,058.60. The disclosure for this sale can be found here. Insiders sold a total of 191,379 shares of company stock valued at $16,502,190 over the last three months. 27.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ABC. Frontier Wealth Management LLC acquired a new position in shares of AmerisourceBergen in the 2nd quarter valued at about $206,000. Beutel Goodman & Co Ltd. increased its holdings in shares of AmerisourceBergen by 2.5% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 2,355,121 shares of the company’s stock valued at $153,329,000 after purchasing an additional 57,604 shares during the period. Schroder Investment Management Group acquired a new position in shares of AmerisourceBergen in the 2nd quarter valued at about $1,189,000. Nuveen Asset Management LLC increased its holdings in shares of AmerisourceBergen by 111.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 738,360 shares of the company’s stock valued at $62,953,000 after purchasing an additional 389,252 shares during the period. Finally, Andra AP fonden increased its holdings in shares of AmerisourceBergen by 4.4% in the 2nd quarter. Andra AP fonden now owns 75,400 shares of the company’s stock valued at $6,429,000 after purchasing an additional 3,200 shares during the period. Hedge funds and other institutional investors own 66.03% of the company’s stock.

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

NYSE ABC opened at $85.57 on Friday. The stock’s 50-day moving average price is $87.39 and its two-hundred day moving average price is $81.97. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The company has a market cap of $18.76 billion, a PE ratio of 13.18, a PEG ratio of 1.60 and a beta of 0.97. AmerisourceBergen has a 1 year low of $69.36 and a 1 year high of $94.85.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. The firm had revenue of $45.24 billion for the quarter, compared to the consensus estimate 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 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.54 EPS. Research analysts forecast that AmerisourceBergen will post 7.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.60 annualized dividend and a yield of 1.87%. AmerisourceBergen’s payout ratio is presently 24.65%.

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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