Beacon Financial Advisory LLC Sells 224 Shares of Cardinal Health, Inc. (NYSE:CAH)

Beacon Financial Advisory LLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 15,293 shares of the company’s stock after selling 224 shares during the period. Beacon Financial Advisory LLC’s holdings in Cardinal Health were worth $1,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Cardinal Health by 101.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after acquiring an additional 161,656 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Cardinal Health by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 314,213 shares of the company’s stock valued at $35,160,000 after buying an additional 15,663 shares in the last quarter. Alpha Cubed Investments LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $371,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Cardinal Health by 1.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 393,350 shares of the company’s stock valued at $44,016,000 after purchasing an additional 6,752 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Cardinal Health by 38.7% in the 1st quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock valued at $2,148,000 after purchasing an additional 5,352 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of CAH stock opened at $113.18 on Wednesday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $119.13. The company has a market cap of $27.39 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.57 and a beta of 0.60. The firm has a 50-day moving average of $111.79 and a 200-day moving average of $104.20.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 earnings per share. As a group, research analysts expect that Cardinal Health, Inc. will post 7.69 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.79%. Cardinal Health’s dividend payout ratio is 39.30%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley upped their price objective on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday. Mizuho upped their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Insider Transactions at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason M. Hollar sold 26,716 shares of the business’s 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 completion of 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 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 quarter. Insiders own 0.09% of the company’s stock.

Cardinal Health Company Profile

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.