Kornitzer Capital Management Inc. KS Has $14.86 Million Position in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

Kornitzer Capital Management Inc. KS cut its position in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 157,190 shares of the company’s stock after selling 475 shares during the period. Kornitzer Capital Management Inc. KS owned 0.07% of AmerisourceBergen Corporation (Holding Co) worth $14,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABC. Point72 Asia Hong Kong Ltd purchased a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth $105,000. American Beacon Advisors Inc. purchased a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth $108,000. SRS Capital Advisors Inc. raised its stake in shares of AmerisourceBergen Corporation (Holding Co) by 0.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock valued at $109,000 after buying an additional 4 shares during the period. ClariVest Asset Management LLC bought a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at about $143,000. Finally, Washington Trust Bank raised its stake in shares of AmerisourceBergen Corporation (Holding Co) by 400.9% in the first quarter. Washington Trust Bank now owns 1,693 shares of the company’s stock valued at $150,000 after buying an additional 1,355 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.

Shares of AmerisourceBergen Corporation (ABC) traded up 1.45% on Friday, hitting $80.02. 2,214,779 shares of the stock traded hands. AmerisourceBergen Corporation has a 12-month low of $68.38 and a 12-month high of $97.85. The firm’s 50-day moving average is $90.91 and its 200 day moving average is $89.18. The firm has a market cap of $17.53 billion, a P/E ratio of 20.85 and a beta of 0.91.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. The company 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%. AmerisourceBergen Corporation (Holding Co)’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. Equities research analysts forecast that AmerisourceBergen Corporation will post $5.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is currently 38.02%.

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Several analysts have recently issued reports on ABC shares. Vetr upgraded shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “strong-buy” rating and set a $97.44 target price on the stock in a research report on Tuesday, April 18th. Jefferies Group LLC initiated coverage on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Wednesday, May 17th. They set a “hold” rating and a $95.00 price target on the stock. Mizuho boosted their price target on shares of AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 30th. BidaskClub upgraded shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Bank of America Corporation lowered shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and decreased their target price for the company from $95.76 to $94.00 in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. AmerisourceBergen Corporation (Holding Co) presently has an average rating of “Hold” and a consensus target price of $93.14.

In other news, Chairman Steven H. Collis sold 15,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $94.76, for a total transaction of $1,421,400.00. Following the sale, the chairman now owns 253,876 shares of the company’s stock, valued at $24,057,289.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 27.40% of the company’s stock.

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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