CIBC Asset Management Inc Has $1.77 Million Stake in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

CIBC Asset Management Inc raised its stake in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 18,692 shares of the company’s stock after buying an additional 30 shares during the period. CIBC Asset Management Inc’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $1,767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Bank & Trust Co. boosted its position in shares of AmerisourceBergen Corporation (Holding Co) by 8.8% in the first quarter. Private Bank & Trust Co. now owns 9,300 shares of the company’s stock valued at $823,000 after buying an additional 750 shares in the last quarter. Alpha Windward LLC boosted its position in shares of AmerisourceBergen Corporation (Holding Co) by 1.8% in the first quarter. Alpha Windward LLC now owns 2,148 shares of the company’s stock valued at $190,000 after buying an additional 39 shares in the last quarter. Private Trust Co. NA purchased a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $596,000. TNB Financial purchased a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $2,619,000. Finally, Beutel Goodman & Co Ltd. purchased a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $100,455,000. 68.81% of the stock is owned by institutional investors and hedge funds.

Shares of AmerisourceBergen Corporation (NYSE:ABC) traded down 1.68% during midday trading on Friday, reaching $78.60. The company had a trading volume of 2,091,927 shares. The firm has a market cap of $17.22 billion, a P/E ratio of 20.48 and a beta of 0.91. The company’s 50-day moving average is $88.60 and its 200-day moving average is $89.03. 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 posted its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The firm had revenue of $38.71 billion during the quarter, compared to analysts’ expectations of $39.13 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that AmerisourceBergen Corporation will post $5.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be paid a $0.365 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.46 dividend on an annualized basis and a yield of 1.86%. AmerisourceBergen Corporation (Holding Co)’s payout ratio is 38.02%.

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Several brokerages recently weighed in on ABC. Bank of America Corporation cut 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 research note on Friday, June 30th. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price target on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Wednesday, June 21st. Zacks Investment Research lowered AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Credit Suisse Group reiterated a “buy” rating and issued a $95.00 price target on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Thursday, July 13th. Finally, BidaskClub lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $93.14.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $94.76, for a total value of $1,421,400.00. Following the completion of the transaction, the chairman now directly 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 can be accessed through this hyperlink. Also, insider Gina Clark sold 1,273 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $80.94, for a total value of $103,036.62. Following the completion of the sale, the insider now owns 10,830 shares in the company, valued at $876,580.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,273 shares of company stock valued at $4,500,387. 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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