Bank of New York Mellon Corp Sells 359,953 Shares of AmerisourceBergen Corporation (Holding Co) (ABC)

Bank of New York Mellon Corp lowered its stake in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 13.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,314,273 shares of the company’s stock after selling 359,953 shares during the period. Bank of New York Mellon Corp owned 1.06% of AmerisourceBergen Corporation (Holding Co) worth $191,507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABC. Parallel Advisors LLC boosted its stake in AmerisourceBergen Corporation (Holding Co) by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after buying an additional 34 shares during the last quarter. Sun Life Financial INC boosted its stake in AmerisourceBergen Corporation (Holding Co) by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after buying an additional 1,200 shares during the last quarter. D.A. Davidson & CO. boosted its stake in AmerisourceBergen Corporation (Holding Co) by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after buying an additional 375 shares during the last quarter. Washington Trust Bank boosted its stake in AmerisourceBergen Corporation (Holding Co) by 13.4% during the second quarter. Washington Trust Bank now owns 1,920 shares of the company’s stock worth $181,000 after buying an additional 227 shares during the last quarter. Finally, Intl Fcstone Inc. acquired a new position in AmerisourceBergen Corporation (Holding Co) during the second quarter worth $201,000. 68.50% of the stock is currently owned by institutional investors.

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Shares of AmerisourceBergen Corporation (NYSE ABC) opened at $78.84 on Monday. The stock has a market capitalization of $17,270.00, a PE ratio of 13.39, a P/E/G ratio of 1.37 and a beta of 0.95. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.91 and a quick ratio of 0.48. AmerisourceBergen Corporation has a 1 year low of $71.90 and a 1 year high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. The firm had revenue of $39.12 billion during the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 55.99% and a net margin of 0.27%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. research analysts anticipate that AmerisourceBergen Corporation will post 6.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.93%. This is a boost from AmerisourceBergen Corporation (Holding Co)’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, November 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio (DPR) is presently 78.92%.

Several brokerages have recently commented on ABC. Needham & Company LLC reaffirmed a “buy” rating and issued a $91.00 price target on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Sunday, September 10th. Leerink Swann set a $90.00 price objective on AmerisourceBergen Corporation (Holding Co) and gave the company a “buy” rating in a report on Monday, August 7th. ValuEngine upgraded AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Robert W. Baird reiterated a “buy” rating and issued a $96.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a report on Monday, November 6th. Finally, TheStreet downgraded AmerisourceBergen Corporation (Holding Co) from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $90.94.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the completion of the sale, the chairman now directly owns 260,226 shares of the company’s stock, valued at approximately $20,021,788.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peyton R. Howell sold 3,243 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $80.23, for a total value of $260,185.89. Following the sale, the insider now directly owns 37,135 shares of the company’s stock, valued at $2,979,341.05. The disclosure for this sale can be found here. Insiders have sold a total of 99,211 shares of company stock valued at $7,717,919 over the last ninety days. 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.

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

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