PNC Financial Services Group Inc. lessened its position in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,901 shares of the company’s stock after selling 23,555 shares during the quarter. PNC Financial Services Group Inc. owned about 0.14% of AmerisourceBergen Corporation (Holding Co) worth $28,540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in AmerisourceBergen Corporation (Holding Co) by 3.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after buying an additional 34 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in AmerisourceBergen Corporation (Holding Co) during the 1st quarter valued at approximately $105,000. American Beacon Advisors Inc. purchased a new position in AmerisourceBergen Corporation (Holding Co) during the 1st quarter valued at approximately $108,000. SRS Capital Advisors Inc. grew its holdings in AmerisourceBergen Corporation (Holding Co) by 0.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock valued at $109,000 after buying an additional 4 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in AmerisourceBergen Corporation (Holding Co) during the 1st quarter valued at approximately $143,000. Institutional investors and hedge funds own 67.64% of the company’s stock.

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Several equities research analysts have recently issued reports on ABC shares. Mizuho raised their price objective on AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the company a “neutral” rating in a research note on Tuesday, May 30th. BidaskClub raised AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Wednesday, June 21st. Bank of America Corporation lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $95.76 to $94.00 in a research note on Friday, June 30th. Finally, Zacks Investment Research lowered AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $91.86.

In related news, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $94.76, for a total value of $1,421,400.00. Following the completion of the transaction, the chairman now directly owns 253,876 shares in the company, valued at $24,057,289.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gina Clark sold 1,273 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $80.94, for a total value of $103,036.62. Following the completion of the transaction, the insider now owns 10,830 shares of the company’s stock, valued at $876,580.20. The disclosure for this sale can be found here. Insiders sold 51,273 shares of company stock valued at $4,323,237 over the last quarter. 27.40% of the stock is currently owned by company insiders.

Shares of AmerisourceBergen Corporation (NYSE ABC) traded down 0.47% during midday trading on Tuesday, hitting $80.29. The company had a trading volume of 96,003 shares. The company has a market capitalization of $17.59 billion, a PE ratio of 20.92 and a beta of 0.95. The company has a 50-day moving average of $81.37 and a 200-day moving average of $87.53. 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 issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. The company had revenue of $38.71 billion during the quarter, compared to analyst estimates of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 earnings per share. Analysts predict that AmerisourceBergen Corporation will post $5.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were given a $0.365 dividend. The ex-dividend date was Thursday, August 17th. This represents a $1.46 annualized dividend and a yield of 1.81%. AmerisourceBergen Corporation (Holding Co)’s payout ratio is 38.02%.

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

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