Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 23.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,887 shares of the company’s stock after selling 31,818 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $9,820,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its position in shares of AmerisourceBergen Corporation (Holding Co) by 45.1% in the first quarter. Janney Montgomery Scott LLC now owns 19,583 shares of the company’s stock valued at $1,733,000 after buying an additional 6,090 shares during the last quarter. IFP Advisors Inc increased its position in shares of AmerisourceBergen Corporation (Holding Co) by 6.5% in the first quarter. IFP Advisors Inc now owns 2,815 shares of the company’s stock valued at $249,000 after buying an additional 173 shares during the last quarter. Whittier Trust Co. increased its position in shares of AmerisourceBergen Corporation (Holding Co) by 4.0% in the first quarter. Whittier Trust Co. now owns 3,017 shares of the company’s stock valued at $267,000 after buying an additional 117 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $2,036,000. Finally, DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $2,590,000. Hedge funds and other institutional investors own 67.66% of the company’s stock.

Shares of AmerisourceBergen Corporation (ABC) opened at 78.56 on Wednesday. The company has a market capitalization of $17.21 billion, a P/E ratio of 20.47 and a beta of 0.91. The company has a 50-day moving average price of $86.55 and a 200 day moving average price of $88.67. AmerisourceBergen Corporation has a 12-month low of $68.38 and a 12-month high of $97.85.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio (DPR) is currently 38.02%.

COPYRIGHT VIOLATION WARNING: “Zurcher Kantonalbank Zurich Cantonalbank Has $9.82 Million Position in AmerisourceBergen Corporation (Holding Co) (ABC)” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/30/zurcher-kantonalbank-zurich-cantonalbank-has-9-82-million-position-in-amerisourcebergen-corporation-holding-co-abc.html.

ABC has been the subject of several analyst reports. Vetr downgraded AmerisourceBergen Corporation (Holding Co) from a “strong-buy” rating to a “buy” rating and set a $97.44 price target for the company. in a report on Tuesday, May 9th. 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 for the company. Mizuho raised 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. 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 downgraded AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and reduced their price target for the company 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 issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $93.14.

In other news, insider Peyton R. Howell sold 20,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the sale, the insider now owns 57,135 shares in the company, valued at $4,570,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Thursday, August 17th. The stock was sold at an average price of $80.94, for a total value of $103,036.62. Following the sale, the insider now owns 10,830 shares in the company, valued at approximately $876,580.20. The disclosure for this sale can be found here. Insiders have sold 51,273 shares of company stock worth $4,500,387 in the last quarter. 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.

Want to see what other hedge funds are holding ABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC).

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

Receive News & Stock Ratings for AmerisourceBergen Corporation (Holding Co) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen Corporation (Holding Co) and related stocks with our FREE daily email newsletter.