Wedge Capital Management L L P NC cut its position in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 18.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,473 shares of the company’s stock after selling 96,741 shares during the period. Wedge Capital Management L L P NC’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $39,842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABC. Capital Investment Advisors LLC raised its position in shares of AmerisourceBergen Corporation (Holding Co) by 3.7% in the first quarter. Capital Investment Advisors LLC now owns 3,393 shares of the company’s stock worth $300,000 after buying an additional 120 shares during the last quarter. Reliance Trust Co. of Delaware raised its position in shares of AmerisourceBergen Corporation (Holding Co) by 6.5% in the first quarter. Reliance Trust Co. of Delaware now owns 15,139 shares of the company’s stock worth $1,340,000 after buying an additional 918 shares during the last quarter. Donald L. Hagan LLC raised its position in shares of AmerisourceBergen Corporation (Holding Co) by 8.5% in the first quarter. Donald L. Hagan LLC now owns 14,499 shares of the company’s stock worth $1,283,000 after buying an additional 1,132 shares during the last quarter. Washington Trust Bank raised its position in shares of 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. Finally, Regent Investment Management LLC raised its position in shares of AmerisourceBergen Corporation (Holding Co) by 41.5% in the first quarter. Regent Investment Management LLC now owns 26,563 shares of the company’s stock worth $2,351,000 after buying an additional 7,788 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AmerisourceBergen Corporation (NYSE:ABC) opened at 80.02 on Friday. The company has a market cap of $17.53 billion, a price-to-earnings ratio of 20.85 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 has a 50 day moving average of $90.91 and a 200-day moving average of $89.18.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $38.71 billion for the quarter, compared to analysts’ expectations of $39.13 billion. During the same period last year, the business earned $1.37 EPS. AmerisourceBergen Corporation (Holding Co)’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts forecast that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

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

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A number of research analysts have weighed in on the stock. Bank of America Corporation lowered shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and cut their price target for the company from $95.76 to $94.00 in a research note on Friday, June 30th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 price target on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Wednesday, June 21st. Zacks Investment Research lowered shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Credit Suisse Group reaffirmed a “buy” rating and issued a $95.00 price target on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Thursday, July 13th. Finally, BidaskClub lowered shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $93.14.

In related news, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $91.73, for a total value of $1,375,950.00. Following the transaction, the chairman now directly owns 253,876 shares in the company, valued at approximately $23,288,045.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 27.40% of the stock is owned by company insiders.

AmerisourceBergen Corporation (Holding Co) Company 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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