Capital Investment Advisors LLC Decreases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Capital Investment Advisors LLC reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.6% in the third quarter, HoldingsChannel.com reports. The firm owned 140,697 shares of the company’s stock after selling 16,735 shares during the period. Capital Investment Advisors LLC’s holdings in Cardinal Health were worth $15,550,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Cultivar Capital Inc. purchased a new stake in Cardinal Health in the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health in the second quarter valued at $29,000. LRI Investments LLC purchased a new position in Cardinal Health during the 1st quarter valued at $32,000. Palisade Asset Management LLC purchased a new position in Cardinal Health during the 1st quarter valued at $34,000. Finally, New Covenant Trust Company N.A. bought a new position in Cardinal Health in the 1st quarter worth $40,000. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CAH shares. JPMorgan Chase & Co. boosted their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Morgan Stanley increased their target price on Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Argus raised their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.36.

Insider Buying and Selling

In other Cardinal Health news, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the sale, the chief executive officer now directly owns 244,091 shares in the company, valued at approximately $26,574,187.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the transaction, the chief executive officer now owns 244,091 shares in the company, valued at approximately $26,574,187.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock worth $12,379,980 in the last three months. Insiders own 0.15% of the company’s stock.

Cardinal Health Trading Up 0.4 %

Cardinal Health stock opened at $112.41 on Friday. Cardinal Health, Inc. has a 12 month low of $90.19 and a 12 month high of $116.05. The company has a market capitalization of $27.38 billion, a price-to-earnings ratio of 49.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. The business’s fifty day simple moving average is $111.00 and its two-hundred day simple moving average is $104.01.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion for the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.506 per share. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

About Cardinal Health

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.