Alliancebernstein L.P. Trims Stock Holdings in Cencora, Inc. (NYSE:COR)

Alliancebernstein L.P. lowered its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,300,417 shares of the company's stock after selling 191,893 shares during the quarter. Alliancebernstein L.P. owned approximately 0.67% of Cencora worth $292,178,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. C M Bidwell & Associates Ltd. boosted its holdings in Cencora by 28.8% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,509 shares of the company's stock valued at $339,000 after acquiring an additional 337 shares in the last quarter. FSB Premier Wealth Management Inc. boosted its stake in shares of Cencora by 8.6% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,281 shares of the company's stock valued at $512,000 after purchasing an additional 180 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Cencora by 16.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 52,965 shares of the company's stock valued at $11,900,000 after buying an additional 7,597 shares during the period. United Bank lifted its holdings in Cencora by 15.8% in the fourth quarter. United Bank now owns 6,487 shares of the company's stock worth $1,457,000 after buying an additional 886 shares during the period. Finally, RWA Wealth Partners LLC boosted its position in Cencora by 1.8% during the 4th quarter. RWA Wealth Partners LLC now owns 33,983 shares of the company's stock valued at $7,635,000 after acquiring an additional 586 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COR. JPMorgan Chase & Co. increased their target price on Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Evercore ISI raised their price objective on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Finally, StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $280.20.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total value of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares of the company's stock, valued at approximately $85,680,732.63. This represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the sale, the executive vice president now owns 15,374 shares of the company's stock, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,675 shares of company stock worth $8,034,778 in the last ninety days. Insiders own 10.80% of the company's stock.

Cencora Stock Down 3.5 %

COR traded down $10.07 during trading on Friday, hitting $279.29. 4,404,535 shares of the company's stock traded hands, compared to its average volume of 1,469,415. The stock has a market capitalization of $54.16 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 1.31 and a beta of 0.51. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $296.65. The company's 50 day simple moving average is $257.28 and its two-hundred day simple moving average is $242.65.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. Cencora's payout ratio is 31.29%.

Cencora Company Profile

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.