2,406 Shares in AmerisourceBergen Corporation (Holding Co) (ABC) Acquired by CFO4Life Group LLC

CFO4Life Group LLC bought a new stake in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) during the first quarter, Holdings Channel reports. The firm bought 2,406 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABC. Archford Capital Strategies LLC bought a new position in shares of AmerisourceBergen Corporation (Holding Co) during the fourth quarter worth approximately $125,000. ClariVest Asset Management LLC bought a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter worth approximately $143,000. Washington Trust Bank raised its position 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 in the last quarter. Alpha Windward LLC raised 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 worth $190,000 after buying an additional 39 shares in the last quarter. Finally, Comprehensive Portfolio Management LLC bought a new position in shares of AmerisourceBergen Corporation (Holding Co) during the fourth quarter worth approximately $201,000. 70.53% of the stock is currently 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 mid-day trading on Friday, hitting $92.53. The company’s stock had a trading volume of 1,880,554 shares. The company has a market cap of $20.20 billion, a price-to-earnings ratio of 17.96 and a beta of 0.93. AmerisourceBergen Corporation has a 1-year low of $68.38 and a 1-year high of $95.18. The company has a 50-day moving average of $89.44 and a 200 day moving average of $86.27.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its quarterly earnings data on Thursday, May 4th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 0.77% and a return on equity of 60.21%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 earnings per share. On average, analysts expect that AmerisourceBergen Corporation will post $5.87 EPS for the current year.

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

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ABC has been the topic of a number of analyst reports. Vetr raised AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “strong-buy” rating and set a $97.44 price objective on the stock in a report on Tuesday, April 18th. Zacks Investment Research lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Mizuho increased their price objective on AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, May 30th. Jefferies Group LLC initiated coverage on AmerisourceBergen Corporation (Holding Co) in a report on Wednesday, May 17th. They set a “hold” rating and a $95.00 price objective on the stock. Finally, Needham & Company LLC initiated coverage on AmerisourceBergen Corporation (Holding Co) in a report on Tuesday, April 4th. They set a “buy” rating and a $99.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $94.71.

In related news, Chairman Steven H. Collis sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $91.73, for a total transaction of $1,375,950.00. Following the completion of the transaction, the chairman now directly owns 253,876 shares of the company’s stock, valued at $23,288,045.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 45,000 shares of company stock valued at $3,930,900 over the last ninety days. 27.40% of the stock is currently owned by corporate 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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