Integrated Wealth Concepts LLC Buys 2,389 Shares of Cencora, Inc. $COR

Key Points

• Integrated Wealth Concepts LLC increased its stake in Cencora, Inc. by 42.5%, now holding shares valued at $2.23 million after purchasing additional shares in Q1.
• Investment firms such as Price T Rowe Associates and Invesco Ltd. have also significantly boosted their stakes in Cencora during the first quarter, reflecting strong institutional interest in the stock.
• Cencora recently announced a quarterly dividend of $0.55, providing a yield of 0.7%, indicating the company's commitment to returning value to shareholders.

Integrated Wealth Concepts LLC increased its position in Cencora, Inc. (NYSE:COR - Free Report) by 42.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,008 shares of the company's stock after buying an additional 2,389 shares during the period. Integrated Wealth Concepts LLC's holdings in Cencora were worth $2,227,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its holdings in Cencora by 4.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after buying an additional 48 shares during the period. Dynamic Advisor Solutions LLC boosted its holdings in Cencora by 6.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after buying an additional 93 shares during the period. GAMMA Investing LLC boosted its holdings in Cencora by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock worth $1,598,000 after buying an additional 2,087 shares during the period. Golden State Wealth Management LLC boosted its holdings in Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after buying an additional 104 shares during the period. Finally, Integrated Advisors Network LLC bought a new position in shares of Cencora during the 1st quarter valued at about $200,000. Institutional investors own 97.52% of the company's stock.

Cencora Price Performance

Shares of NYSE COR traded up $0.03 during mid-day trading on Friday, hitting $302.83. 1,189,360 shares of the company's stock traded hands, compared to its average volume of 1,317,955. The company's 50-day moving average is $293.24 and its two-hundred day moving average is $286.00. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The company has a market capitalization of $58.71 billion, a P/E ratio of 31.16, a PEG ratio of 1.44 and a beta of 0.62. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.34 EPS. On average, equities analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio is currently 22.63%.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the sale, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $9,993,789 over the last 90 days. Corporate insiders own 10.80% of the company's stock.

Analyst Ratings Changes

COR has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Jefferies Financial Group increased their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and an average price target of $311.25.

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.