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

Prime Capital Investment Advisors LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 11.4% in the 3rd quarter, Holdings Channel reports. The firm owned 4,618 shares of the company’s stock after buying an additional 472 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Cardinal Health were worth $510,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Cardinal Health by 101.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock valued at $36,010,000 after buying an additional 161,656 shares during the last quarter. Alpha Cubed Investments LLC purchased a new stake in Cardinal Health in the 3rd quarter valued at $371,000. Bessemer Group Inc. boosted its stake in Cardinal Health by 38.7% during the 1st quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock worth $2,148,000 after purchasing an additional 5,352 shares during the period. Murphy Pohlad Asset Management LLC purchased a new position in Cardinal Health during the 2nd quarter worth $1,208,000. Finally, Cetera Investment Advisers increased its stake in Cardinal Health by 62.7% in the first quarter. Cetera Investment Advisers now owns 115,755 shares of the company’s stock valued at $12,953,000 after purchasing an additional 44,615 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of CAH stock opened at $118.78 on Friday. The stock has a market cap of $28.75 billion, a PE ratio of 23.11, a P/E/G ratio of 1.56 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The stock has a fifty day moving average price of $113.14 and a 200 day moving average price of $105.18.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same period in the previous year, the firm earned $1.73 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.70%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CAH shares. Robert W. Baird raised their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Argus upped their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Finally, UBS Group upped their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.00.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total value of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 17.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle D. Greene sold 4,000 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the sale, the insider now owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. This trade represents a 17.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,351 shares of company stock valued at $7,565,843. 0.09% of the stock is owned by corporate insiders.

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.