Denver Investment Advisors LLC lowered its position in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 167,857 shares of the company’s stock after selling 2,913 shares during the period. Denver Investment Advisors LLC’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $15,867,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Point72 Asia Hong Kong Ltd acquired a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $105,000. American Beacon Advisors Inc. acquired a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $108,000. SRS Capital Advisors Inc. boosted its position in 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 buying an additional 4 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $143,000. Finally, Washington Trust Bank boosted its position in AmerisourceBergen Corporation (Holding Co) by 400.9% in the first quarter. Washington Trust Bank now owns 1,693 shares of the company’s stock worth $150,000 after buying an additional 1,355 shares during the last quarter. Hedge funds and other institutional investors own 68.81% of the company’s stock.

AmerisourceBergen Corporation (NYSE:ABC) opened at 80.08 on Tuesday. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 20.87 and a beta of 0.91. AmerisourceBergen Corporation has a 12 month low of $68.38 and a 12 month high of $97.85. The stock’s 50 day moving average price is $90.46 and its 200-day moving average price is $89.22.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $38.71 billion for the quarter, compared to analyst estimates of $39.13 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that AmerisourceBergen Corporation will post $5.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be given a dividend of $0.365 per share. The ex-dividend date is Thursday, August 17th. This represents a $1.46 annualized dividend and a dividend yield of 1.82%. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is presently 38.02%.

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A number of research firms have issued reports on ABC. Zacks Investment Research cut AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Jefferies Group LLC began coverage on AmerisourceBergen Corporation (Holding Co) in a report on Wednesday, May 17th. They set a “hold” rating and a $95.00 price target on the stock. 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. Bank of America Corporation cut AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and cut their price target for the stock from $95.76 to $94.00 in a report on Friday, June 30th. Finally, Leerink Swann set a $90.00 price target on AmerisourceBergen Corporation (Holding Co) and gave the stock a “buy” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $93.14.

In related news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $94.76, for a total transaction of $1,421,400.00. Following the sale, the chairman now directly owns 253,876 shares in the company, valued at $24,057,289.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 27.40% of the company’s stock.

About AmerisourceBergen Corporation (Holding Co)

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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