AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 32.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 204,232 shares of the company’s stock after selling 96,093 shares during the period. Russell Investments Group Ltd. owned 0.09% of AmerisourceBergen Corporation (Holding Co) worth $19,307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABC. Point72 Asia Hong Kong Ltd purchased a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at approximately $105,000. American Beacon Advisors Inc. bought a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter valued at about $108,000. SRS Capital Advisors Inc. raised its stake in 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 in the last quarter. ClariVest Asset Management LLC bought a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter valued at about $143,000. Finally, Washington Trust Bank raised its stake in 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 in the last quarter. Hedge funds and other institutional investors own 68.81% of the company’s stock.

Shares of AmerisourceBergen Corporation (NYSE ABC) traded down 1.68% during mid-day trading on Friday, hitting $78.60. 2,091,927 shares of the stock traded hands. AmerisourceBergen Corporation has a one year low of $68.38 and a one year high of $97.85. The firm has a market capitalization 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 (Holding Co) (NYSE:ABC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The business had revenue of $38.71 billion for the quarter, compared to analyst estimates of $39.13 billion. During the same period last year, the firm earned $1.37 earnings per share. AmerisourceBergen Corporation (Holding Co)’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts expect 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. Investors 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 yield of 1.86%. The ex-dividend date of this dividend is Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is 38.02%.

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Several analysts have issued reports on ABC shares. Jefferies Group LLC restated 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. UBS AG decreased their price target on shares of AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, August 4th. BidaskClub lowered shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Vetr lowered shares of AmerisourceBergen Corporation (Holding Co) from a “strong-buy” rating to a “buy” rating and set a $97.44 price target on the stock. in a research report on Tuesday, May 9th. Finally, TheStreet lowered shares of AmerisourceBergen Corporation (Holding Co) from a “b” rating to a “c+” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $93.14.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $94.76, for a total transaction of $1,421,400.00. Following the sale, the chairman now directly owns 253,876 shares in the company, valued at $24,057,289.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gina Clark sold 1,273 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $80.94, for a total transaction of $103,036.62. Following 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 ninety days, insiders have sold 51,273 shares of company stock worth $4,500,387. 27.40% of the stock is owned by 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.