Bank of America Corp DE Lowers Holdings in National HealthCare Co. (NYSE:NHC)

Bank of America Corp DE cut its holdings in National HealthCare Co. (NYSE:NHC - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,474 shares of the company's stock after selling 7,653 shares during the quarter. Bank of America Corp DE owned approximately 0.05% of National HealthCare worth $911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of National HealthCare by 345.6% in the 3rd quarter. Barclays PLC now owns 21,063 shares of the company's stock valued at $2,649,000 after purchasing an additional 16,336 shares in the last quarter. Allworth Financial LP increased its holdings in National HealthCare by 378.0% during the fourth quarter. Allworth Financial LP now owns 564 shares of the company's stock valued at $61,000 after buying an additional 446 shares during the period. Principal Financial Group Inc. raised its stake in National HealthCare by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 63,739 shares of the company's stock worth $6,856,000 after buying an additional 2,140 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in National HealthCare during the fourth quarter worth $83,000. Finally, Navellier & Associates Inc. lifted its holdings in National HealthCare by 67.1% during the fourth quarter. Navellier & Associates Inc. now owns 7,153 shares of the company's stock worth $769,000 after buying an additional 2,873 shares during the period. 56.44% of the stock is currently owned by institutional investors.

National HealthCare Stock Down 1.5%

NHC traded down $1.64 on Monday, hitting $104.46. The company had a trading volume of 58,529 shares, compared to its average volume of 54,372. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 13.09 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.77 and a current ratio of 1.80. The stock has a fifty day moving average price of $97.96 and a 200-day moving average price of $101.81. National HealthCare Co. has a 12-month low of $89.14 and a 12-month high of $138.49.

National HealthCare Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Monday, June 30th will be given a $0.64 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.45%. This is an increase from National HealthCare's previous quarterly dividend of $0.61. National HealthCare's payout ratio is presently 36.99%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised National HealthCare from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 12th.

About National HealthCare

National HealthCare Corporation engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities.