KCM Investment Advisors LLC decreased its holdings in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 22.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,950 shares of the company’s stock after selling 861 shares during the quarter. KCM Investment Advisors LLC’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ABC. BlackRock Inc. boosted its holdings in AmerisourceBergen Corporation (Holding Co) by 1,139.3% during the first quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock worth $1,121,608,000 after purchasing an additional 11,650,881 shares during the last quarter. FIL Ltd acquired a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth $269,043,000. Bank of America Corp DE boosted its holdings in AmerisourceBergen Corporation (Holding Co) by 97.7% during the first quarter. Bank of America Corp DE now owns 2,482,557 shares of the company’s stock worth $219,707,000 after purchasing an additional 1,227,051 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in AmerisourceBergen Corporation (Holding Co) by 42.9% during the second quarter. Wells Fargo & Company MN now owns 3,344,441 shares of the company’s stock worth $316,149,000 after purchasing an additional 1,003,327 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in AmerisourceBergen Corporation (Holding Co) by 50.0% during the first quarter. Morgan Stanley now owns 2,498,525 shares of the company’s stock worth $221,121,000 after purchasing an additional 832,812 shares during the last quarter. Institutional investors and hedge funds own 67.67% of the company’s stock.

Several research analysts recently commented on the stock. Zacks Investment Research cut shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Mizuho increased their target price on shares of AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. Bank of America Corporation cut shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $95.76 to $94.00 in a report on Friday, June 30th. Leerink Swann set a $90.00 target price on shares of AmerisourceBergen Corporation (Holding Co) and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, Credit Suisse Group restated a “buy” rating and set a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $92.34.

In other news, Chairman Steven H. Collis sold 15,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $79.92, for a total value of $1,198,800.00. Following the completion of the sale, the chairman now owns 253,876 shares in the company, valued at approximately $20,289,769.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gina Clark sold 1,273 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $80.94, for a total transaction of $103,036.62. Following the completion of the sale, the insider now owns 10,830 shares of the company’s stock, valued at approximately $876,580.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,273 shares of company stock valued at $4,323,237. Company insiders own 27.40% of the company’s stock.

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Shares of AmerisourceBergen Corporation (NYSE ABC) opened at 81.60 on Friday. The firm has a market cap of $17.88 billion, a PE ratio of 21.26 and a beta of 0.95. AmerisourceBergen Corporation has a 52 week low of $68.38 and a 52 week high of $97.85. The firm has a 50-day moving average of $81.75 and a 200-day moving average of $87.67.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The firm had revenue of $38.71 billion during the quarter, compared to analyst estimates of $39.13 billion. During the same quarter in the prior year, the business posted $1.37 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st were paid a $0.365 dividend. The ex-dividend date was Thursday, August 17th. This represents a $1.46 annualized dividend and a dividend yield of 1.79%. AmerisourceBergen Corporation (Holding Co)’s payout ratio is 38.02%.

About AmerisourceBergen Corporation (Holding Co)

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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