Chemical Bank Takes $266,000 Position in AmerisourceBergen Corporation (Holding Co) (ABC)

Chemical Bank purchased a new position in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,816 shares of the company’s stock, valued at approximately $266,000.

Several other institutional investors have also made changes to their positions in ABC. Parallel Advisors LLC increased its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after acquiring an additional 34 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter worth about $105,000. American Beacon Advisors Inc. bought a new stake in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter worth about $108,000. SRS Capital Advisors Inc. increased its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 0.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock worth $109,000 after acquiring an additional 4 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter worth about $143,000. Institutional investors own 67.67% of the company’s stock.

In related news, Chairman Steven H. Collis sold 15,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $94.76, for a total value of $1,421,400.00. Following the completion of the sale, the chairman now directly owns 253,876 shares of the company’s stock, valued at approximately $24,057,289.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gina Clark sold 1,273 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $80.94, for a total value of $103,036.62. Following the completion of the sale, the insider now directly owns 10,830 shares of the company’s stock, valued at $876,580.20. The disclosure for this sale can be found here. Insiders sold a total of 51,273 shares of company stock valued at $4,323,237 over the last ninety days. 27.40% of the stock is currently owned by corporate insiders.

AmerisourceBergen Corporation (ABC) opened at 81.60 on Friday. AmerisourceBergen Corporation has a 12-month low of $68.38 and a 12-month high of $97.85. The company’s 50 day moving average price is $81.75 and its 200-day moving average price is $87.67. The company has a market capitalization of $17.88 billion, a P/E ratio of 21.26 and a beta of 0.95.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued its earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The business had revenue of $38.71 billion during the quarter, compared to analyst estimates of $39.13 billion. During the same period in the previous year, the company posted $1.37 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that AmerisourceBergen Corporation will post $5.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s payout ratio is 38.02%.

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ABC has been the subject of several recent analyst reports. Zacks Investment Research downgraded AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Monday, July 10th. ValuEngine downgraded AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Mizuho increased their price target on AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. UBS AG lowered their price target on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating for the company in a report on Friday, August 4th. Finally, BidaskClub upgraded AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $92.34.

AmerisourceBergen Corporation (Holding Co) Profile

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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Institutional Ownership by Quarter for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

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