Convergence Investment Partners LLC decreased its position in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,852 shares of the company’s stock after selling 2,838 shares during the period. Convergence Investment Partners LLC’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $2,727,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ABC. Vanguard Group Inc. raised its position in AmerisourceBergen Corporation (Holding Co) by 4.0% in the first quarter. Vanguard Group Inc. now owns 15,348,617 shares of the company’s stock worth $1,358,352,000 after buying an additional 587,779 shares during the last quarter. BlackRock Inc. raised its position in AmerisourceBergen Corporation (Holding Co) by 1,139.3% in the first quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock worth $1,121,608,000 after buying an additional 11,650,881 shares during the last quarter. Fiduciary Management Inc. WI raised its position in AmerisourceBergen Corporation (Holding Co) by 11.2% in the first quarter. Fiduciary Management Inc. WI now owns 6,151,621 shares of the company’s stock worth $544,418,000 after buying an additional 617,723 shares during the last quarter. JPMorgan Chase & Co. raised its position in AmerisourceBergen Corporation (Holding Co) by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 3,106,108 shares of the company’s stock worth $274,889,000 after buying an additional 293,229 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in AmerisourceBergen Corporation (Holding Co) by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 3,063,289 shares of the company’s stock worth $271,101,000 after buying an additional 216,204 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

AmerisourceBergen Corporation (NYSE ABC) opened at 80.02 on Friday. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of 20.85 and a beta of 0.91. AmerisourceBergen Corporation has a one year low of $68.38 and a one year high of $97.85. The firm has a 50-day moving average price of $90.91 and a 200-day moving average price of $89.18.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share (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 during the quarter, compared to the consensus estimate of $39.13 billion. During the same period last year, the business posted $1.37 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be given a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is currently 38.02%.

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A number of research analysts recently weighed in on ABC shares. Vetr raised AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “strong-buy” rating and set a $97.44 target price on the stock in a report on Tuesday, April 18th. Jefferies Group LLC reissued a “hold” rating and set a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a report on Wednesday, June 21st. UBS AG decreased their target price on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, August 4th. BidaskClub lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet lowered AmerisourceBergen Corporation (Holding Co) from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. AmerisourceBergen Corporation (Holding Co) presently has a consensus rating of “Hold” and an average target price of $93.14.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of the firm’s stock in a transaction 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 sale, the chairman now directly owns 253,876 shares of the company’s stock, valued at $24,057,289.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.

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

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