FIL Ltd Invests $269.04 Million in AmerisourceBergen Corporation (Holding Co) (ABC)

FIL Ltd Invests $269.04 Million in AmerisourceBergen Corporation (Holding Co) (ABC)

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FIL Ltd purchased a new stake in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) during the first quarter, Holdings Channel reports. The firm purchased 3,040,025 shares of the company’s stock, valued at approximately $269,043,000.

A number of other large investors also recently modified their holdings of the company. Vulcan Value Partners LLC raised its stake in shares of AmerisourceBergen Corporation (Holding Co) by 251.4% in the fourth quarter. Vulcan Value Partners LLC now owns 5,440,860 shares of the company’s stock valued at $425,421,000 after buying an additional 3,892,674 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of AmerisourceBergen Corporation (Holding Co) by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 3,106,108 shares of the company’s stock valued at $274,889,000 after buying an additional 293,229 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of AmerisourceBergen Corporation (Holding Co) by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 3,063,289 shares of the company’s stock valued at $271,101,000 after buying an additional 216,204 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of AmerisourceBergen Corporation (Holding Co) by 41.7% in the first quarter. Wells Fargo & Company MN now owns 2,341,114 shares of the company’s stock valued at $207,188,000 after buying an additional 688,384 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the fourth quarter valued at approximately $147,775,000. 70.53% of the stock is owned by institutional investors.

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

Shares of AmerisourceBergen Corporation (NYSE ABC) traded down 2.01% during midday trading on Friday, hitting $92.53. 1,880,554 shares of the company were exchanged. AmerisourceBergen Corporation has a 52-week low of $68.38 and a 52-week high of $95.18. The stock has a market capitalization of $20.20 billion, a price-to-earnings ratio of 17.96 and a beta of 0.93. The company has a 50-day moving average price of $89.44 and a 200-day moving average price of $86.27.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its quarterly earnings data on Thursday, May 4th. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The firm had revenue of $37.15 billion during the quarter, compared to analysts’ expectations of $38.07 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 60.21% and a net margin of 0.77%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 EPS. On average, analysts forecast that AmerisourceBergen Corporation will post $5.87 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 5th. Shareholders of record on Monday, May 22nd were issued a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Thursday, May 18th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio (DPR) is 28.24%.

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ABC has been the subject of several recent analyst reports. Vetr raised shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “strong-buy” rating and set a $97.44 price target for the company in a report on Tuesday, April 18th. Zacks Investment Research lowered shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. BidaskClub raised shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a report on Saturday. 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 report on Tuesday, May 30th. Finally, Jefferies Group LLC began coverage on shares of AmerisourceBergen Corporation (Holding Co) in a report on Wednesday, May 17th. They issued a “hold” rating and a $95.00 price target for the company. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $94.71.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $81.98, for a total value of $1,229,700.00. Following the completion of the sale, the chairman now owns 253,876 shares in the company, valued at approximately $20,812,754.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 45,000 shares of company stock valued at $3,930,900 in the last 90 days. 27.40% of the stock is owned by company insiders.

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.

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Dan specializes in matters of money management and personal finance and has been published on numerous financial, business, health and wellness and sports websites.

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