AmerisourceBergen Corp. (ABC) Holdings Cut by Atlantic Trust Group LLC

Atlantic Trust Group LLC trimmed its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,337 shares of the company’s stock after selling 3,669 shares during the period. Atlantic Trust Group LLC owned 0.10% of AmerisourceBergen worth $17,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABC. JPMorgan Chase & Co. lifted its holdings in AmerisourceBergen by 107.3% during the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after purchasing an additional 2,776,287 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of AmerisourceBergen by 660.8% in the second quarter. Janus Henderson Group PLC now owns 2,574,746 shares of the company’s stock valued at $243,392,000 after buying an additional 2,236,319 shares during the last quarter. Harding Loevner LP raised its position in shares of AmerisourceBergen by 89.6% in the third quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock valued at $134,939,000 after buying an additional 1,496,761 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of AmerisourceBergen by 42.9% in the second quarter. Wells Fargo & Company MN now owns 3,344,441 shares of the company’s stock valued at $316,149,000 after buying an additional 1,003,327 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of AmerisourceBergen in the third quarter valued at about $75,681,000. 67.83% of the stock is currently owned by institutional investors and hedge funds.

In related news, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the completion of the sale, the chairman now directly owns 260,226 shares in the company, valued at $20,021,788.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Peyton R. Howell sold 3,243 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $80.23, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,607 shares of company stock valued at $14,690,166. 27.40% of the stock is owned by company insiders.

A number of equities research analysts have recently commented on ABC shares. ValuEngine upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Needham & Company LLC set a $93.00 target price on shares of AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, October 24th. Robert W. Baird reiterated a “buy” rating and issued a $96.00 target price on shares of AmerisourceBergen in a research report on Monday, November 6th. Deutsche Bank started coverage on shares of AmerisourceBergen in a research report on Monday, December 4th. They issued a “buy” rating and a $97.00 target price for the company. Finally, Cowen set a $107.00 target price on shares of AmerisourceBergen and gave the company a “buy” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. AmerisourceBergen has an average rating of “Buy” and a consensus target price of $93.20.

Shares of AmerisourceBergen Corp. (NYSE ABC) opened at $92.46 on Friday. AmerisourceBergen Corp. has a 12-month low of $71.90 and a 12-month high of $97.85. The stock has a market cap of $20,050.00, a PE ratio of 57.07, a P/E/G ratio of 1.61 and a beta of 0.99. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The firm had revenue of $39.12 billion during the quarter, compared to analysts’ expectations of $40.10 billion. During the same period last year, the business earned $1.30 earnings per share. AmerisourceBergen’s revenue was up 4.2% compared to the same quarter last year. analysts predict that AmerisourceBergen Corp. will post 6.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Monday, November 20th were given a dividend of $0.38 per share. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, November 17th. AmerisourceBergen’s dividend payout ratio (DPR) is presently 93.83%.

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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.

Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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