Asset Dedication LLC Buys 307 Shares of Cencora, Inc. (NYSE:COR)

Asset Dedication LLC increased its stake in shares of Cencora, Inc. (NYSE:COR) by 682.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 352 shares of the company’s stock after purchasing an additional 307 shares during the period. Asset Dedication LLC’s holdings in Cencora were worth $79,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Concord Wealth Partners purchased a new position in shares of Cencora during the third quarter valued at about $30,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Cencora during the 3rd quarter valued at approximately $41,000. Modus Advisors LLC bought a new stake in Cencora in the 4th quarter worth approximately $54,000. Finally, Carolina Wealth Advisors LLC raised its holdings in shares of Cencora by 366.7% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock worth $60,000 after acquiring an additional 209 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Up 1.0 %

Shares of COR opened at $258.54 on Friday. The firm has a market capitalization of $49.97 billion, a P/E ratio of 34.43, a P/E/G ratio of 1.54 and a beta of 0.49. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $261.25. The firm has a fifty day moving average price of $238.56 and a 200-day moving average price of $235.60. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

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

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction 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 completion of the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at $79,670,111.29. The trade was a 13.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,187 shares of company stock valued at $17,790,912. Corporate insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on COR shares. Evercore ISI boosted their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. upped their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, UBS Group lifted their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.40.

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.