Alliancebernstein L.P. Acquires 3,227 Shares of Cardinal Health, Inc. $CAH

Alliancebernstein L.P. grew its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 347,441 shares of the company's stock after purchasing an additional 3,227 shares during the quarter. Alliancebernstein L.P. owned approximately 0.15% of Cardinal Health worth $47,867,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the company. Alyeska Investment Group L.P. bought a new stake in Cardinal Health during the first quarter valued at $92,219,000. Empyrean Capital Partners LP bought a new stake in shares of Cardinal Health during the 1st quarter valued at about $52,215,000. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Cardinal Health by 1.3% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 54,496 shares of the company's stock worth $7,508,000 after buying an additional 696 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Cardinal Health during the 1st quarter worth approximately $939,000. Finally, MAI Capital Management boosted its holdings in shares of Cardinal Health by 1.7% during the 1st quarter. MAI Capital Management now owns 6,898 shares of the company's stock worth $950,000 after buying an additional 114 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

CAH has been the topic of several research analyst reports. Wall Street Zen lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Robert W. Baird increased their target price on shares of Cardinal Health from $197.00 to $203.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Citigroup reissued a "neutral" rating and set a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a research report on Tuesday, August 12th. Finally, Evercore ISI cut their price target on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.93.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 28,151 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $148.94, for a total transaction of $4,192,809.94. Following the transaction, the insider owned 15,431 shares of the company's stock, valued at $2,298,293.14. This trade represents a 64.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen M. Mason sold 41,575 shares of Cardinal Health stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total transaction of $6,187,191.50. Following the transaction, the chief executive officer directly owned 26,085 shares in the company, valued at approximately $3,881,969.70. This represents a 61.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 271,676 shares of company stock valued at $40,489,525 over the last three months. Insiders own 0.09% of the company's stock.

Cardinal Health Trading Down 0.1%

NYSE CAH traded down $0.09 during trading hours on Friday, hitting $152.38. The company's stock had a trading volume of 295,479 shares, compared to its average volume of 2,394,137. Cardinal Health, Inc. has a 52 week low of $106.54 and a 52 week high of $168.44. The company's 50-day simple moving average is $154.75 and its two-hundred day simple moving average is $147.48. The company has a market capitalization of $36.39 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.05. Cardinal Health had a negative return on equity of 74.45% and a net margin of 0.70%.The company had revenue of $60.16 billion for the quarter, compared to analyst estimates of $60.91 billion. During the same quarter last year, the company earned $1.84 earnings per share. The company's revenue for the quarter was up .5% on a year-over-year basis. Cardinal Health has set its FY 2026 guidance at 9.300-9.500 EPS. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Cardinal Health's dividend payout ratio (DPR) is presently 31.63%.

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.