Philip James Wealth Mangement LLC Trims Holdings in Cardinal Health, Inc. (NYSE:CAH)

Philip James Wealth Mangement LLC cut its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 12.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,077 shares of the company's stock after selling 1,779 shares during the period. Philip James Wealth Mangement LLC's holdings in Cardinal Health were worth $1,802,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CAH. Flputnam Investment Management Co. boosted its holdings in Cardinal Health by 1.8% in the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company's stock valued at $21,358,000 after purchasing an additional 3,148 shares during the period. Huntington National Bank grew its position in shares of Cardinal Health by 1.2% during the fourth quarter. Huntington National Bank now owns 10,920 shares of the company's stock worth $1,292,000 after acquiring an additional 128 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in Cardinal Health by 17.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock valued at $429,000 after purchasing an additional 457 shares during the period. Fisher Asset Management LLC purchased a new stake in Cardinal Health during the 4th quarter valued at approximately $368,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock valued at $1,811,000 after acquiring an additional 2,694 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAH has been the topic of several recent analyst reports. Citigroup restated a "neutral" rating and set a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Robert W. Baird boosted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. UBS Group upped their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Finally, Mizuho upped their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $157.43.

Cardinal Health Stock Performance

Shares of CAH stock opened at $165.61 on Friday. The company has a market capitalization of $39.53 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 1.83 and a beta of 0.66. The company's 50 day moving average price is $151.92 and its two-hundred day moving average price is $135.19. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $166.32.

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

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.5107 dividend. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio (DPR) is currently 31.51%.

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.

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