First National Trust Co lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 3.1% in the 2nd quarter, Holdings Channel reports. The firm owned 42,951 shares of the company’s stock after selling 1,384 shares during the period. First National Trust Co’s holdings in Cardinal Health were worth $4,223,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC grew its holdings in shares of Cardinal Health by 40.1% during the fourth quarter. Fisher Asset Management LLC now owns 4,218 shares of the company’s stock worth $425,000 after buying an additional 1,208 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Cardinal Health by 223.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,778 shares of the company’s stock valued at $482,000 after acquiring an additional 3,302 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Cardinal Health in the 4th quarter valued at about $441,000. Apollon Wealth Management LLC lifted its stake in Cardinal Health by 34.0% in the 4th quarter. Apollon Wealth Management LLC now owns 4,074 shares of the company’s stock worth $411,000 after purchasing an additional 1,034 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $1,207,000. 87.17% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Aaron E. Alt sold 2,323 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the sale, the insider now directly owns 94,529 shares in the company, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,963 shares of company stock valued at $12,379,980. 0.15% of the stock is currently owned by company insiders.
Cardinal Health Stock Performance
Cardinal Health (NYSE:CAH – Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current year.
Cardinal Health Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 89.78%.
Analysts Set New Price Targets
A number of brokerages have issued reports on CAH. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Argus cut their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Citigroup reduced their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Wells Fargo & Company increased their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Finally, UBS Group lifted their price target on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.45.
Read Our Latest Stock Report on Cardinal Health
Cardinal Health 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.
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