Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 23.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,867 shares of the company’s stock after selling 16,170 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cardinal Health were worth $5,953,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CAH. Paragon Capital Management Inc. grew its stake in Cardinal Health by 0.7% in the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after acquiring an additional 99 shares during the period. Midland Wealth Advisors LLC increased its stake in shares of Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC raised its position in shares of Cardinal Health by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after buying an additional 100 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in Cardinal Health by 0.9% in the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 2.5 %

Shares of Cardinal Health stock opened at $123.30 on Friday. The business’s fifty day simple moving average is $113.72 and its 200-day simple moving average is $105.70. The firm has a market cap of $29.84 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping 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 net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 earnings per share. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.64%. Cardinal Health’s payout ratio is presently 39.30%.

Analyst Ratings Changes

A number of equities analysts have commented on CAH shares. UBS Group increased their target price on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Evercore ISI raised their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. Robert W. Baird lifted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Wells Fargo & Company increased their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Finally, Barclays boosted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.00.

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.