Wealth Enhancement Advisory Services LLC Reduces Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Wealth Enhancement Advisory Services LLC trimmed its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 32.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,097 shares of the company's stock after selling 14,968 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Cardinal Health were worth $3,678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CAH. Cyrus J. Lawrence LLC acquired a new position in Cardinal Health in the fourth quarter valued at approximately $26,000. Promus Capital LLC acquired a new stake in Cardinal Health during the fourth quarter worth $30,000. Bellwether Advisors LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $32,000. Lee Danner & Bass Inc. acquired a new position in shares of Cardinal Health in the 4th quarter valued at $35,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Cardinal Health in the 4th quarter valued at $36,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Up 0.1%

NYSE:CAH traded up $0.22 during midday trading on Friday, reaching $154.34. The company had a trading volume of 390,288 shares, compared to its average volume of 2,212,696. The firm has a market capitalization of $36.84 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.49 and a beta of 0.66. The stock's fifty day simple moving average is $143.17 and its 200-day simple moving average is $131.18. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $157.82.

Cardinal Health (NYSE:CAH - Get Free Report) last posted 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 company had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Cardinal Health's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.5107 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.32%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is currently 31.83%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CAH. Citigroup reissued a "neutral" rating on shares of Cardinal Health in a research report on Thursday, May 1st. Bank of America lifted their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Mizuho boosted their price target 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. UBS Group increased their price objective 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. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $136.00 to $179.00 in a report on Tuesday. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $149.50.

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.