Majedie Asset Management Ltd Boosts Stake in AmerisourceBergen Corporation (Holding Co) (ABC)

Majedie Asset Management Ltd raised its stake in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 50.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,355 shares of the company’s stock after buying an additional 33,081 shares during the period. AmerisourceBergen Corporation (Holding Co) comprises about 0.9% of Majedie Asset Management Ltd’s investment portfolio, making the stock its 27th largest position. Majedie Asset Management Ltd’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $8,704,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ABC. Bollard Group LLC increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 0.4% in the first quarter. Bollard Group LLC now owns 2,912 shares of the company’s stock valued at $258,000 after buying an additional 11 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its stake in AmerisourceBergen Corporation (Holding Co) by 0.4% in the first quarter. Jaffetilchin Investment Partners LLC now owns 5,106 shares of the company’s stock worth $452,000 after buying an additional 19 shares in the last quarter. Reinhart Partners Inc. increased its stake in AmerisourceBergen Corporation (Holding Co) by 0.6% in the first quarter. Reinhart Partners Inc. now owns 4,040 shares of the company’s stock worth $358,000 after buying an additional 25 shares in the last quarter. Park National Corp OH increased its stake in AmerisourceBergen Corporation (Holding Co) by 0.7% in the first quarter. Park National Corp OH now owns 4,029 shares of the company’s stock worth $357,000 after buying an additional 29 shares in the last quarter. Finally, Alpha Windward LLC increased its stake in AmerisourceBergen Corporation (Holding Co) by 1.8% in the first quarter. Alpha Windward LLC now owns 2,148 shares of the company’s stock worth $190,000 after buying an additional 39 shares in the last quarter. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of AmerisourceBergen Corporation (NYSE:ABC) traded up 1.52% on Monday, reaching $93.94. The company’s stock had a trading volume of 507,326 shares. The company has a market cap of $20.51 billion, a PE ratio of 18.23 and a beta of 0.93. AmerisourceBergen Corporation has a 52-week low of $68.38 and a 52-week high of $95.18. The firm has a 50 day moving average of $89.44 and a 200 day moving average of $86.27.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued its earnings results on Thursday, May 4th. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The company had revenue of $37.15 billion for the quarter, compared to analysts’ expectations of $38.07 billion. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.77% and a return on equity of 60.21%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 EPS. Analysts predict that AmerisourceBergen Corporation will post $5.87 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 5th. Shareholders of record on Monday, May 22nd were issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, May 18th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio (DPR) is presently 28.24%.

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A number of equities research analysts have recently issued reports on ABC shares. Vetr lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating and set a $90.84 target price on the stock. in a research report on Thursday, April 6th. Mizuho lifted their price target on AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, May 30th. Jefferies Group LLC initiated 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. Zacks Investment Research downgraded AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a research note on Tuesday, February 21st. Finally, Needham & Company LLC initiated coverage on AmerisourceBergen Corporation (Holding Co) in a research note on Tuesday, April 4th. They issued a “buy” rating and a $99.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $94.71.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $81.98, for a total value of $1,229,700.00. Following the sale, the chairman now owns 253,876 shares of the company’s stock, valued at approximately $20,812,754.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 45,000 shares of company stock worth $3,930,900. Insiders own 27.40% of the company’s stock.

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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