CIBC World Markets Inc. raised its position in AmerisourceBergen Corp. (NYSE:ABC) by 196.2% during the third quarter, Holdings Channel reports. The fund owned 26,990 shares of the company’s stock after buying an additional 17,877 shares during the period. CIBC World Markets Inc.’s holdings in AmerisourceBergen Corp. were worth $2,180,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ABC. HealthInvest Partners AB acquired a new position in shares of AmerisourceBergen Corp. during the second quarter valued at $12,691,000. Channing Capital Management LLC boosted its position in shares of AmerisourceBergen Corp. by 17.5% in the second quarter. Channing Capital Management LLC now owns 186,898 shares of the company’s stock valued at $14,825,000 after buying an additional 27,866 shares in the last quarter. Concert Wealth Management Inc. boosted its position in shares of AmerisourceBergen Corp. by 13.2% in the second quarter. Concert Wealth Management Inc. now owns 6,674 shares of the company’s stock valued at $536,000 after buying an additional 777 shares in the last quarter. First Niagara Bank boosted its position in shares of AmerisourceBergen Corp. by 3.9% in the second quarter. First Niagara Bank now owns 21,251 shares of the company’s stock valued at $1,686,000 after buying an additional 798 shares in the last quarter. Finally, Edmp Inc. acquired a new position in shares of AmerisourceBergen Corp. during the second quarter valued at $926,000. 63.44% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for AmerisourceBergen Corp. (NYSE:ABC)

Shares of AmerisourceBergen Corp. (NYSE:ABC) traded down 1.80% during midday trading on Tuesday, reaching $77.63. The company’s stock had a trading volume of 2,493,695 shares. The firm has a 50-day moving average of $77.62 and a 200-day moving average of $80.98. AmerisourceBergen Corp. has a one year low of $68.38 and a one year high of $105.81. The stock has a market cap of $17.09 billion, a PE ratio of 12.28 and a beta of 0.80.

AmerisourceBergen Corp. (NYSE:ABC) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.07. The firm earned $37.60 billion during the quarter, compared to the consensus estimate of $37.97 billion. AmerisourceBergen Corp. had a return on equity of 68.70% and a net margin of 0.97%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. On average, analysts forecast that AmerisourceBergen Corp. will post $5.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Monday, November 21st will be issued a dividend of $0.365 per share. This is an increase from AmerisourceBergen Corp.’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, November 17th. This represents a $1.46 annualized dividend and a dividend yield of 1.88%. AmerisourceBergen Corp.’s payout ratio is currently 23.03%.

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Several equities analysts have recently weighed in on the stock. Morgan Stanley raised shares of AmerisourceBergen Corp. from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $84.00 to $86.00 in a research note on Thursday, November 10th. Mizuho raised shares of AmerisourceBergen Corp. from a “neutral” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Wednesday, November 9th. Leerink Swann cut shares of AmerisourceBergen Corp. from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a research note on Friday, November 4th. TheStreet cut shares of AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Finally, Zacks Investment Research cut shares of AmerisourceBergen Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. AmerisourceBergen Corp. presently has an average rating of “Hold” and an average target price of $94.11.

In other news, insider John G. Chou sold 63,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $85.70, for a total transaction of $5,463,375.00. Following the completion of the sale, the insider now owns 104,043 shares in the company, valued at $8,916,485.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kathy H. Gaddes sold 681 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $88.15, for a total value of $60,030.15. Following the sale, the insider now owns 1,022 shares of the company’s stock, valued at approximately $90,089.30. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

About AmerisourceBergen Corp.

AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.

5 Day Chart for NYSE:ABC

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