AlphaStar Capital Management LLC Purchases New Shares in Cardinal Health, Inc. (NYSE:CAH)

AlphaStar Capital Management LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,539 shares of the company's stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cyrus J. Lawrence LLC bought a new position in Cardinal Health in the 4th quarter valued at $26,000. Bellwether Advisors LLC bought a new position in Cardinal Health in the 4th quarter valued at $32,000. Tompkins Financial Corp grew its stake in shares of Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after acquiring an additional 128 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health during the 4th quarter worth $35,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Cardinal Health during the 4th quarter worth $36,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup reiterated a "neutral" rating and set a $170.00 price target (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. UBS Group increased their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley set a $181.00 price target on Cardinal Health and gave the stock an "overweight" rating in a research note on Friday, June 13th. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Bank of America raised their target price on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $157.43.

Cardinal Health Stock Down 1.9%

NYSE:CAH opened at $164.43 on Wednesday. The business's 50-day moving average price is $156.66 and its two-hundred day moving average price is $137.98. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $168.44. The stock has a market cap of $39.25 billion, a P/E ratio of 25.65, a PEG ratio of 1.66 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The firm had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter last year, the firm posted $2.08 EPS. The company's revenue was up .0% compared to the same quarter last year. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.5107 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.24%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is presently 31.83%.

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.

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