KMG Fiduciary Partners LLC Sells 21,067 Shares of Cardinal Health, Inc. (NYSE:CAH)

KMG Fiduciary Partners LLC trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 21.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 77,836 shares of the company’s stock after selling 21,067 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Cardinal Health were worth $8,602,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the sale, the insider now directly owns 75,971 shares of the company’s stock, valued at approximately $8,310,467.69. The trade was 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 related news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica L. Mayer sold 16,573 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 in the last quarter. Insiders own 0.15% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock opened at $112.41 on Friday. The stock’s 50 day moving average price is $111.00 and its two-hundred day moving average price is $104.01. The stock has a market capitalization of $27.38 billion, a price-to-earnings ratio of 49.96, a PEG ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 52-week low of $90.19 and a 52-week high of $116.05.

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

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.506 per share. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CAH shares. Wells Fargo & Company raised their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. UBS Group raised their price objective on Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Argus upped their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Robert W. Baird boosted 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $119.36.

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.