Vanguard Group Inc. Sells 120,665 Shares of National HealthCare Co. $NHC

Key Points

• Vanguard Group Inc. has reduced its stake in National HealthCare Co. by 7.8%, selling 120,665 shares and now owns approximately 9.19% of the company, valued at $131.8 million.
• In contrast, GAMMA Investing LLC drastically increased its holdings by 10,510.2%, acquiring over 30,795 shares to reach a total of 31,088 shares valued at approximately $2.89 million.
• National HealthCare also announced a quarterly dividend of $0.64 per share, with a yield of 2.3%, to be paid on October 31st.

Vanguard Group Inc. reduced its position in shares of National HealthCare Co. (NYSE:NHC - Free Report) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,420,348 shares of the company's stock after selling 120,665 shares during the period. Vanguard Group Inc. owned approximately 9.19% of National HealthCare worth $131,808,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Summit Global Investments grew its position in National HealthCare by 1.1% in the first quarter. Summit Global Investments now owns 10,745 shares of the company's stock worth $997,000 after acquiring an additional 114 shares in the last quarter. Hohimer Wealth Management LLC grew its position in National HealthCare by 6.9% in the first quarter. Hohimer Wealth Management LLC now owns 2,479 shares of the company's stock worth $230,000 after acquiring an additional 160 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in National HealthCare by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,966 shares of the company's stock worth $964,000 after acquiring an additional 202 shares in the last quarter. Sterling Capital Management LLC grew its position in National HealthCare by 809.1% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the company's stock worth $43,000 after acquiring an additional 356 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in National HealthCare by 4.8% in the first quarter. Victory Capital Management Inc. now owns 8,677 shares of the company's stock worth $805,000 after acquiring an additional 398 shares in the last quarter. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

National HealthCare Trading Up 0.5%

NYSE NHC traded up $0.56 during trading on Wednesday, hitting $111.97. 27,882 shares of the company's stock traded hands, compared to its average volume of 58,374. The stock has a fifty day moving average of $103.37 and a two-hundred day moving average of $99.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.80 and a quick ratio of 1.77. National HealthCare Co. has a 12-month low of $89.14 and a 12-month high of $137.53. The firm has a market cap of $1.74 billion, a P/E ratio of 14.03 and a beta of 0.58.

National HealthCare Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 30th. National HealthCare's dividend payout ratio is presently 38.15%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of National HealthCare from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 12th.

About National HealthCare

National HealthCare Corporation engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities.