Allianz Asset Management GmbH Has $118.86 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Allianz Asset Management GmbH lessened its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 862,708 shares of the company's stock after selling 95,343 shares during the quarter. Allianz Asset Management GmbH owned about 0.36% of Cardinal Health worth $118,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its position in Cardinal Health by 11.2% during the first quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock worth $106,000 after purchasing an additional 77 shares during the period. CSS LLC IL grew its position in shares of Cardinal Health by 0.8% during the 4th quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after buying an additional 90 shares during the period. Perigon Wealth Management LLC grew its position in shares of 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 buying an additional 90 shares during the period. Smith Shellnut Wilson LLC ADV grew its position in shares of 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 buying an additional 91 shares during the period. Finally, TIAA Trust National Association grew its position in shares of Cardinal Health by 4.5% during the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock worth $258,000 after buying an additional 94 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CAH shares. Bank of America boosted their price objective on Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Morgan Stanley raised their price target on shares of Cardinal Health from $181.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Citigroup reaffirmed a "neutral" rating and issued a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Finally, Robert W. Baird upped their target price on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and a consensus price target of $158.07.

Cardinal Health Trading Down 0.9%

Shares of Cardinal Health stock traded down $1.47 during trading hours on Tuesday, hitting $157.12. 1,980,105 shares of the company were exchanged, compared to its average volume of 2,233,987. Cardinal Health, Inc. has a 1 year low of $94.85 and a 1 year high of $168.44. The business has a 50-day moving average of $158.68 and a 200-day moving average of $140.50. The stock has a market capitalization of $37.50 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.58 and a beta of 0.68.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $55.33 billion. During the same period last year, the business posted $2.08 EPS. Cardinal Health's quarterly revenue was up .0% on a year-over-year basis. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.5107 dividend. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Tuesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is 31.83%.

Cardinal Health 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.