AlphaQuest LLC Boosts Position in Cardinal Health, Inc. $CAH

Key Points

• AlphaQuest LLC increased its stake in Cardinal Health, Inc. by 24.8% during the first quarter, holding 17,867 shares valued at approximately $2.46 million.
• Analysts have been optimistic, with Bank of America raising its price target from $165.00 to $170.00 and maintaining a "buy" rating on Cardinal Health's stock.
• The company announced a quarterly dividend of $0.5107, translating to an annualized payout of $2.04 and a dividend yield of 1.3%.

AlphaQuest LLC lifted its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,867 shares of the company's stock after buying an additional 3,550 shares during the period. AlphaQuest LLC's holdings in Cardinal Health were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Bancorp Inc. lifted its stake in shares of Cardinal Health by 11.2% in the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after buying an additional 77 shares in the last quarter. Applied Finance Capital Management LLC lifted its stake in shares of Cardinal Health by 1.4% in the first quarter. Applied Finance Capital Management LLC now owns 6,049 shares of the company's stock worth $833,000 after buying an additional 85 shares in the last quarter. CSS LLC IL grew its holdings in shares of Cardinal Health by 0.8% in the fourth quarter. CSS LLC IL now owns 11,190 shares of the company's stock valued at $1,323,000 after purchasing an additional 90 shares during the period. Perigon Wealth Management LLC grew its holdings in shares of Cardinal Health by 4.2% in the first quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock valued at $309,000 after purchasing an additional 90 shares during the period. Finally, Smith Shellnut Wilson LLC ADV grew its holdings in shares of Cardinal Health by 2.1% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock valued at $606,000 after purchasing an additional 91 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cardinal Health

In other news, CEO Stephen M. Mason sold 41,575 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 26,085 shares of the company's stock, valued at approximately $3,881,969.70. The trade was a 61.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica L. Mayer sold 38,078 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $148.82, for a total value of $5,666,767.96. Following the transaction, the insider directly owned 48,457 shares of the company's stock, valued at approximately $7,211,370.74. This represents a 44.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,676 shares of company stock worth $40,489,525 over the last quarter. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CAH has been the subject of a number of analyst reports. Wells Fargo & Company reissued an "overweight" rating and issued a $185.00 price objective (up previously from $183.00) on shares of Cardinal Health in a report on Wednesday, August 13th. Wall Street Zen lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Citigroup reissued a "neutral" rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a report on Tuesday, August 12th. Finally, Evercore ISI dropped their price objective on shares of Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $163.20.

Cardinal Health Stock Down 2.3%

NYSE:CAH traded down $3.5270 on Friday, reaching $148.0430. 2,685,985 shares of the company's stock were exchanged, compared to its average volume of 2,600,685. The firm has a market capitalization of $35.35 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 1.25 and a beta of 0.67. The business has a fifty day moving average of $159.02 and a 200-day moving average of $145.58. Cardinal Health, Inc. has a 52-week low of $106.54 and a 52-week high of $168.44.

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

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.5107 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.04 annualized dividend and a yield of 1.4%. Cardinal Health's dividend payout ratio is 31.63%.

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.