AmerisourceBergen Corporation (Holding Co) (ABC) Position Boosted by Sky Investment Group LLC

Sky Investment Group LLC boosted its position in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,370 shares of the company’s stock after buying an additional 870 shares during the period. Sky Investment Group LLC’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $2,020,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Creative Planning increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 3.6% in the first quarter. Creative Planning now owns 19,042 shares of the company’s stock worth $1,685,000 after buying an additional 658 shares during the period. Raymond James Trust N.A. increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 4.2% in the first quarter. Raymond James Trust N.A. now owns 3,594 shares of the company’s stock worth $318,000 after buying an additional 145 shares during the period. Osborn Williams & Donohoe LLC increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 3.1% in the first quarter. Osborn Williams & Donohoe LLC now owns 9,016 shares of the company’s stock worth $798,000 after buying an additional 271 shares during the period. Hefty Wealth Partners purchased a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $1,072,000. Finally, Boltwood Capital Management purchased a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $662,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AmerisourceBergen Corporation (ABC) opened at 80.02 on Friday. The firm has a market capitalization of $17.53 billion, a PE ratio of 20.85 and a beta of 0.91. The company’s 50-day moving average is $90.91 and its 200 day moving average is $89.18. AmerisourceBergen Corporation has a 52-week low of $68.38 and a 52-week high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.06. The company had revenue of $38.71 billion for the quarter, compared to the consensus estimate of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.37 EPS. Equities analysts expect that AmerisourceBergen Corporation will post $5.88 earnings per share for the current fiscal year.

The firm also recently declared 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 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is currently 38.02%.

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ABC has been the topic of several recent analyst reports. Bank of America Corporation downgraded shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $95.76 to $94.00 in a report on Friday, June 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a report on Wednesday, June 21st. Zacks Investment Research downgraded shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Credit Suisse Group reaffirmed a “buy” rating and set a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a report on Thursday, July 13th. Finally, BidaskClub cut shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $93.14.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $91.73, for a total value of $1,375,950.00. Following the transaction, the chairman now directly owns 253,876 shares of the company’s stock, valued at approximately $23,288,045.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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.

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

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