AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) Holdings Boosted by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. boosted its holdings in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 598,831 shares of the company’s stock after purchasing an additional 6,096 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.27% of AmerisourceBergen Corporation (Holding Co) worth $56,608,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Sigma Investment Counselors Inc. increased its position in shares of AmerisourceBergen Corporation (Holding Co) by 1.5% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 12,465 shares of the company’s stock valued at $1,178,000 after purchasing an additional 189 shares during the last quarter. Cigna Investments Inc. New bought a new position in shares of AmerisourceBergen Corporation (Holding Co) during the 2nd quarter valued at approximately $602,000. Greatmark Investment Partners Inc. increased its position in shares of AmerisourceBergen Corporation (Holding Co) by 4.6% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 7,175 shares of the company’s stock valued at $678,000 after purchasing an additional 315 shares during the last quarter. Advisor Partners LLC increased its position in shares of AmerisourceBergen Corporation (Holding Co) by 24.5% during the 2nd quarter. Advisor Partners LLC now owns 5,624 shares of the company’s stock valued at $532,000 after purchasing an additional 1,106 shares during the last quarter. Finally, TD Asset Management Inc. boosted its holdings in AmerisourceBergen Corporation (Holding Co) by 7.7% during the 2nd quarter. TD Asset Management Inc. now owns 249,610 shares of the company’s stock valued at $23,596,000 after acquiring an additional 17,941 shares during the period. 67.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of AmerisourceBergen Corporation (ABC) traded up 1.13% during mid-day trading on Friday, hitting $81.60. The stock had a trading volume of 2,732,342 shares. The firm has a market cap of $17.88 billion, a PE ratio of 21.26 and a beta of 0.95. AmerisourceBergen Corporation has a 52-week low of $68.38 and a 52-week high of $97.85. The firm has a 50 day moving average price of $81.75 and a 200 day moving average price of $87.67.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued 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. The company had revenue of $38.71 billion during the quarter, compared to analyst estimates of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. Equities analysts predict that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st were issued a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.79%. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is currently 38.02%.

A number of research firms recently issued reports on ABC. Zacks Investment Research cut AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Mizuho boosted 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. Bank of America Corporation cut AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $95.76 to $94.00 in a report on Friday, June 30th. Leerink Swann set a $90.00 target price on AmerisourceBergen Corporation (Holding Co) and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. AmerisourceBergen Corporation (Holding Co) presently has an average rating of “Hold” and a consensus target price of $92.34.

In related news, insider Peyton R. Howell sold 20,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $80.00, for a total value of $1,600,000.00. Following the transaction, the insider now owns 57,135 shares in the company, valued at approximately $4,570,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction on Friday, September 1st. The stock was sold at an average price of $79.92, for a total transaction of $1,198,800.00. Following the completion of the transaction, the chairman now owns 253,876 shares in the company, valued at approximately $20,289,769.92. The disclosure for this sale can be found here. Insiders have sold a total of 51,273 shares of company stock worth $4,323,237 in the last 90 days. 27.40% of the stock is owned by insiders.

ILLEGAL ACTIVITY NOTICE: This report was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://ledgergazette.com/2017/09/17/schwab-charles-investment-management-inc-has-56-61-million-position-in-amerisourcebergen-corporation-holding-co-abc.html.

AmerisourceBergen Corporation (Holding Co) 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.

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

Receive News & Ratings for AmerisourceBergen Corporation (Holding Co) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen Corporation (Holding Co) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply