AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) Position Cut by Huntington National Bank

Huntington National Bank lowered its stake in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 18.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,506 shares of the company’s stock after selling 3,744 shares during the period. Huntington National Bank’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $1,560,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd purchased a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $105,000. American Beacon Advisors Inc. purchased a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $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 worth $109,000 after buying an additional 4 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter worth $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 worth $150,000 after buying an additional 1,355 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

AmerisourceBergen Corporation (NYSE ABC) traded up 1.45% during trading on Friday, hitting $80.02. 2,214,779 shares of the stock traded hands. AmerisourceBergen Corporation has a 52-week low of $68.38 and a 52-week high of $97.85. The stock has a market cap of $17.53 billion, a P/E ratio of 20.85 and a beta of 0.91. The stock has a 50 day moving average price of $90.91 and a 200-day moving average price of $89.18.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ 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 in the prior year, the company earned $1.37 earnings per share. On average, analysts anticipate that AmerisourceBergen Corporation will post $5.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio (DPR) is 38.02%.

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A number of equities research analysts have recently weighed in on ABC shares. Vetr raised 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 note on Tuesday, April 18th. Jefferies Group LLC started 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 for the company. Mizuho lifted their price target on shares of AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. BidaskClub raised 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 cut shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $95.76 to $94.00 in a report on Friday, June 30th. One 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 company. The company presently has a consensus rating of “Hold” and a consensus target price of $93.14.

In related news, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction on 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 filing with the SEC, which can be accessed through this hyperlink. 27.40% of the stock is currently owned by corporate insiders.

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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