Highstreet Asset Management Inc. Has $334,000 Holdings in AmerisourceBergen Corporation (Holding Co) (ABC)

Highstreet Asset Management Inc. cut its stake in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 38.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,033 shares of the company’s stock after selling 2,548 shares during the quarter. Highstreet Asset Management Inc.’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $334,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of ABC. Parallel Advisors LLC raised its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after buying an additional 34 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter valued at about $105,000. American Beacon Advisors Inc. bought a new position in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter valued at about $108,000. Sun Life Financial INC raised its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 15,000.0% in the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after buying an additional 1,200 shares during the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 29.0% in the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after buying an additional 375 shares during the last quarter. 67.49% of the stock is owned by institutional investors.

A number of research firms recently issued reports on ABC. Zacks Investment Research cut AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Credit Suisse Group reiterated a “buy” rating and issued a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Thursday, July 13th. BidaskClub lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Morgan Stanley lowered AmerisourceBergen Corporation (Holding Co) from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 14th. Finally, Robert W. Baird upgraded AmerisourceBergen Corporation (Holding Co) from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $89.00 to $96.00 in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $91.13.

AmerisourceBergen Corporation (NYSE ABC) opened at 76.95 on Wednesday. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of 20.05 and a beta of 0.96. 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 $80.92 and a 200-day moving average price of $85.91.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.06. The firm had revenue of $38.71 billion for 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 revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. Analysts expect that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

In related news, CFO Tim G. Guttman sold 11,600 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total transaction of $921,852.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peyton R. Howell sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $80.00, for a total value of $1,600,000.00. Following the sale, the insider now owns 57,135 shares in the company, valued at $4,570,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,728 shares of company stock worth $5,215,143. 27.40% of the stock is currently owned by corporate insiders.

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About AmerisourceBergen Corporation (Holding Co)

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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