Bellwether Advisors LLC Grows Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Bellwether Advisors LLC significantly increased its position in Cardinal Health by 3,617.9%, acquiring nearly 10,000 shares now valued at approximately $1.37 million.
• Cardinal Health's stock has received upgrades from various brokerages, with target prices now ranging from $158.07 to $190.00, reflecting a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend increase to $0.5107 per share, raising its annual yield to 1.30% and maintaining a payout ratio of 31.83%.

Bellwether Advisors LLC increased its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3,617.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,964 shares of the company's stock after purchasing an additional 9,696 shares during the quarter. Bellwether Advisors LLC's holdings in Cardinal Health were worth $1,373,000 at the end of the most recent reporting period.

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

Cardinal Health Stock Performance

CAH stock traded down $1.78 during mid-day trading on Thursday, hitting $156.12. The company had a trading volume of 1,138,429 shares, compared to its average volume of 2,370,740. Cardinal Health, Inc. has a 12 month low of $96.05 and a 12 month high of $168.44. The stock's fifty day moving average price is $159.62 and its two-hundred day moving average price is $142.24. The firm has a market cap of $37.26 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 1.56 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. Cardinal Health's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 earnings per share. Equities analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.5107 per share. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Tuesday, July 1st. Cardinal Health's dividend payout ratio is presently 31.83%.

Analyst Ratings Changes

Several research firms recently issued reports on CAH. Citigroup restated a "neutral" rating and issued a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Evercore ISI reissued an "outperform" rating and set a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Robert W. Baird upped their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Bank of America raised their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.07.

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.