Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Liberty One Investment Management LLC

Liberty One Investment Management LLC lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 263,507 shares of the company's stock after selling 12,104 shares during the period. Cardinal Health accounts for approximately 3.7% of Liberty One Investment Management LLC's portfolio, making the stock its biggest position. Liberty One Investment Management LLC owned about 0.11% of Cardinal Health worth $36,303,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CAH. Brown Advisory Inc. raised its holdings in Cardinal Health by 3.1% in the 1st quarter. Brown Advisory Inc. now owns 174,862 shares of the company's stock valued at $24,091,000 after buying an additional 5,229 shares during the period. U.S. Capital Wealth Advisors LLC raised its holdings in Cardinal Health by 59.4% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 5,959 shares of the company's stock valued at $821,000 after buying an additional 2,221 shares during the period. Raleigh Capital Management Inc. raised its holdings in Cardinal Health by 121.8% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,029 shares of the company's stock valued at $142,000 after buying an additional 565 shares during the period. TD Private Client Wealth LLC raised its holdings in Cardinal Health by 4.3% in the 1st quarter. TD Private Client Wealth LLC now owns 15,967 shares of the company's stock valued at $2,200,000 after buying an additional 657 shares during the period. Finally, Capital Advisors Inc. OK purchased a new stake in Cardinal Health in the 1st quarter valued at about $207,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of Cardinal Health stock traded down $3.20 on Tuesday, reaching $164.43. 2,066,889 shares of the company were exchanged, compared to its average volume of 2,244,219. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $168.88. The company has a market cap of $39.25 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.63 and a beta of 0.68. The stock's 50 day moving average price is $156.17 and its 200-day moving average price is $137.79.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion during 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%. The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.08 earnings per share. On average, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share 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. Investors of record on Tuesday, July 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.24%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's dividend payout ratio is 31.83%.

Wall Street Analyst Weigh In

CAH has been the topic of several research analyst reports. Citigroup restated a "neutral" rating and issued a $170.00 price objective (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Mizuho boosted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Evercore ISI restated an "outperform" rating and issued a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. UBS Group boosted their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. 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. According to MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and an average price target of $157.43.

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.