California Public Employees Retirement System reduced its position in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 389,900 shares of the company’s stock after selling 44,400 shares during the quarter. California Public Employees Retirement System owned about 0.18% of AmerisourceBergen Corporation (Holding Co) worth $36,857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABC. Buckingham Asset Management LLC acquired a new position in AmerisourceBergen Corporation (Holding Co) in the 1st quarter valued at $208,000. Norinchukin Bank The raised its stake in AmerisourceBergen Corporation (Holding Co) by 5.4% in the 1st quarter. Norinchukin Bank The now owns 30,425 shares of the company’s stock valued at $2,693,000 after purchasing an additional 1,556 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in AmerisourceBergen Corporation (Holding Co) in the 1st quarter valued at $8,779,000. Argent Trust Co raised its stake in AmerisourceBergen Corporation (Holding Co) by 15.4% in the 1st quarter. Argent Trust Co now owns 17,177 shares of the company’s stock valued at $1,520,000 after purchasing an additional 2,290 shares during the last quarter. Finally, Tobam raised its stake in AmerisourceBergen Corporation (Holding Co) by 24.3% in the 1st quarter. Tobam now owns 566,563 shares of the company’s stock valued at $50,140,000 after purchasing an additional 110,711 shares during the last quarter. 67.64% of the stock is owned by hedge funds and other institutional investors.

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AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.06. The firm 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 business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were paid a $0.365 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.46 annualized dividend and a yield of 1.80%. AmerisourceBergen Corporation (Holding Co)’s payout ratio is currently 38.02%.

Several research analysts recently commented on the company. Zacks Investment Research downgraded AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Mizuho increased 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. Bank of America Corporation downgraded AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $95.76 to $94.00 in a research note on Friday, June 30th. Leerink Swann set a $90.00 price objective on AmerisourceBergen Corporation (Holding Co) and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $91.86.

In related news, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total value of $921,852.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 15,000 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were 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 owns 253,876 shares of the company’s stock, valued at $24,057,289.76. The disclosure for this sale can be found here. Insiders sold 62,873 shares of company stock valued at $5,245,089 over 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.

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

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