Pinnacle Associates Ltd. Buys New Holdings in AmerisourceBergen Corporation (Holding Co) (ABC)

Pinnacle Associates Ltd. bought a new stake in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,145 shares of the company’s stock, valued at approximately $203,000.

Other large investors also recently added to or reduced their stakes in the company. 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 valued at $104,000 after purchasing an additional 34 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter valued at approximately $105,000. American Beacon Advisors Inc. acquired a new position in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter valued at approximately $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 valued at $109,000 after purchasing an additional 4 shares during the period. Finally, ClariVest Asset Management LLC acquired a new position in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter valued at approximately $143,000. 67.67% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on ABC. Needham & Company LLC reissued a “buy” rating and issued a $91.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a report on Sunday. ValuEngine lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC set a $95.00 price objective on AmerisourceBergen Corporation (Holding Co) and gave the stock a “hold” rating in a report on Tuesday, August 29th. Leerink Swann set a $90.00 price objective on AmerisourceBergen Corporation (Holding Co) and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, BidaskClub lowered AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $92.34.

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Shares of AmerisourceBergen Corporation (NYSE:ABC) opened at 84.39 on Tuesday. AmerisourceBergen Corporation has a 52-week low of $68.38 and a 52-week high of $97.85. The firm’s 50-day moving average price is $82.97 and its 200-day moving average price is $87.90. The stock has a market capitalization of $18.49 billion, a P/E ratio of 21.99 and a beta of 0.95.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $39.13 billion. During the same period last year, the firm earned $1.37 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts forecast that AmerisourceBergen Corporation will post $5.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st were given a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio (DPR) is presently 38.02%.

In other news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction 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 transaction, the chairman now directly owns 253,876 shares in the company, valued at approximately $24,057,289.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gina Clark sold 1,273 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $80.94, for a total value of $103,036.62. Following the transaction, the insider now owns 10,830 shares in the company, valued at $876,580.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,273 shares of company stock worth $4,323,237. 27.40% of the stock is owned by insiders.

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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