Ibex Wealth Advisors Acquires New Stake in Cencora, Inc. (NYSE:COR)

Ibex Wealth Advisors purchased a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,241 shares of the company's stock, valued at approximately $279,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB lifted its stake in shares of Cencora by 2.2% in the 4th quarter. Swedbank AB now owns 1,425,775 shares of the company's stock valued at $320,343,000 after purchasing an additional 31,326 shares in the last quarter. Forsta AP Fonden lifted its position in Cencora by 0.6% during the fourth quarter. Forsta AP Fonden now owns 69,670 shares of the company's stock valued at $15,653,000 after buying an additional 400 shares in the last quarter. Asset Dedication LLC grew its stake in Cencora by 682.2% during the fourth quarter. Asset Dedication LLC now owns 352 shares of the company's stock worth $79,000 after buying an additional 307 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of Cencora by 5.6% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,206 shares of the company's stock worth $945,000 after acquiring an additional 223 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its stake in shares of Cencora by 15.5% in the 4th quarter. Perigon Wealth Management LLC now owns 2,427 shares of the company's stock valued at $585,000 after acquiring an additional 325 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now directly owns 326,557 shares in the company, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company's stock, valued at $4,649,648.88. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,187 shares of company stock valued at $17,790,912. Corporate insiders own 15.80% of the company's stock.

Cencora Stock Up 1.5 %

Shares of Cencora stock traded up $3.92 during trading on Thursday, reaching $259.86. The company had a trading volume of 326,091 shares, compared to its average volume of 1,212,618. The company has a market cap of $50.23 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $261.25. The firm's fifty day moving average is $238.30 and its 200-day moving average is $235.44. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.85%. This is an increase from Cencora's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. Cencora's payout ratio is 29.29%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group increased their price target on Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Leerink Partners lowered their target price on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Barclays boosted their price target on Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Evercore ISI increased their price objective on shares of Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and a consensus price target of $278.40.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.