Golden State Equity Partners Acquires New Holdings in Cardinal Health, Inc. (NYSE:CAH)

Golden State Equity Partners bought a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,146 shares of the company's stock, valued at approximately $433,000.

Several other hedge funds also recently bought and sold shares of CAH. CSS LLC IL boosted its stake 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 acquiring an additional 90 shares during the period. Smith Shellnut Wilson LLC ADV lifted its holdings 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 valued at $606,000 after purchasing an additional 91 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Cardinal Health by 11.0% in the fourth quarter. Private Trust Co. NA now owns 930 shares of the company's stock valued at $110,000 after purchasing an additional 92 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Cardinal Health by 2.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock valued at $411,000 after purchasing an additional 93 shares during the last quarter. Finally, TIAA Trust National Association raised its position in shares of Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock valued at $258,000 after purchasing an additional 94 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CAH shares. Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Evercore ISI restated an "outperform" rating and set a $180.00 price objective (up previously from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. UBS Group increased their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Mizuho lifted their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Finally, Citigroup reaffirmed 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. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Stock Up 1.1%

CAH opened at $165.61 on Friday. The stock has a market capitalization of $39.53 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 1.83 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $166.32. The company has a 50-day simple moving average of $151.92 and a 200 day simple moving average of $135.19.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. The company had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.08 EPS. Sell-side analysts anticipate 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. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is 31.51%.

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.

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