Russell Investments Group Ltd. lessened its holdings in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,717 shares of the company’s stock after selling 5,515 shares during the period. Russell Investments Group Ltd. owned 0.09% of AmerisourceBergen worth $16,444,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ABC. Campbell & CO Investment Adviser LLC bought a new position in AmerisourceBergen in the 2nd quarter worth $219,000. Municipal Employees Retirement System of Michigan raised its holdings in AmerisourceBergen by 49.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,060 shares of the company’s stock worth $762,000 after acquiring an additional 2,670 shares during the period. NGAM Advisors L.P. raised its holdings in AmerisourceBergen by 27.8% in the 2nd quarter. NGAM Advisors L.P. now owns 61,785 shares of the company’s stock worth $5,841,000 after acquiring an additional 13,432 shares during the period. IBM Retirement Fund raised its holdings in AmerisourceBergen by 28.3% in the 2nd quarter. IBM Retirement Fund now owns 2,353 shares of the company’s stock worth $222,000 after acquiring an additional 519 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in AmerisourceBergen by 5.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 20,663 shares of the company’s stock worth $1,953,000 after acquiring an additional 1,080 shares during the period. 68.22% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on ABC shares. Leerink Swann set a $90.00 price objective on shares of AmerisourceBergen and gave the stock a “buy” rating in a report on Monday, August 7th. Needham & Company LLC boosted their price objective on shares of AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. TheStreet downgraded shares of AmerisourceBergen from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. BidaskClub downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Jefferies Group set a $85.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $91.14.

In related news, insider Peyton R. Howell sold 3,243 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $80.23, for a total value of $260,185.89. Following the sale, the insider now owns 37,135 shares of the company’s stock, valued at $2,979,341.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dale Danilewitz sold 4,459 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $78.30, for a total transaction of $349,139.70. The disclosure for this sale can be found here. In the last three months, insiders sold 103,670 shares of company stock worth $8,067,058. 27.40% of the stock is currently owned by insiders.

Shares of AmerisourceBergen Corporation (ABC) opened at $84.66 on Thursday. The firm has a market cap of $18,133.52, a PE ratio of 14.12, a P/E/G ratio of 1.44 and a beta of 0.95. AmerisourceBergen Corporation has a 52 week low of $71.90 and a 52 week high of $97.85. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48.

AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. The business had revenue of $39.12 billion for the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 earnings per share. equities analysts expect that AmerisourceBergen Corporation will post 6.06 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.52 dividend on an annualized basis and a yield of 1.80%. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s payout ratio is presently 82.16%.

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AmerisourceBergen 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 (NYSE:ABC)

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