Wetherby Asset Management Inc. reduced its stake in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,887 shares of the company’s stock after selling 118 shares during the period. Wetherby Asset Management Inc.’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $745,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of ABC. Raymond James Trust N.A. boosted its stake in shares of AmerisourceBergen Corporation (Holding Co) by 4.2% in the first quarter. Raymond James Trust N.A. now owns 3,594 shares of the company’s stock valued at $318,000 after buying an additional 145 shares in the last quarter. Creative Planning boosted its stake in shares of AmerisourceBergen Corporation (Holding Co) by 3.6% in the first quarter. Creative Planning now owns 19,042 shares of the company’s stock valued at $1,685,000 after buying an additional 658 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $1,020,000. Regentatlantic Capital LLC boosted its stake in shares of AmerisourceBergen Corporation (Holding Co) by 11.1% in the first quarter. Regentatlantic Capital LLC now owns 4,719 shares of the company’s stock valued at $418,000 after buying an additional 471 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $100,455,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Shares of AmerisourceBergen Corporation (NYSE ABC) opened at 78.88 on Friday. The company’s 50 day moving average price is $91.38 and its 200-day moving average price is $89.22. AmerisourceBergen Corporation has a 52 week low of $68.38 and a 52 week high of $97.85. The stock has a market capitalization of $17.28 billion, a PE ratio of 20.55 and a beta of 0.91.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, topping 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 firm had revenue of $38.71 billion during the quarter, compared to analysts’ expectations of $39.13 billion. During the same period in the previous year, the firm posted $1.37 EPS. AmerisourceBergen Corporation (Holding Co)’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts predict that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be paid a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 1.85%. AmerisourceBergen Corporation (Holding Co)’s payout ratio is 38.02%.

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ABC has been the subject of several research reports. Vetr upgraded AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “strong-buy” rating and set a $97.44 target price for the company in a report on Tuesday, April 18th. Jefferies Group LLC initiated coverage on AmerisourceBergen Corporation (Holding Co) in a report on Wednesday, May 17th. They issued a “hold” rating and a $95.00 target price for the company. Mizuho upped their target price 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. BidaskClub upgraded AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Bank of America Corporation cut AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $95.76 to $94.00 in a report on Friday, June 30th. 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 company. The company presently has an average rating of “Hold” and a consensus target price of $93.14.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 27.40% of the stock is owned by 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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