AE Wealth Management LLC Grows Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

AE Wealth Management LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 17.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,059 shares of the company’s stock after purchasing an additional 6,797 shares during the quarter. AE Wealth Management LLC’s holdings in Cardinal Health were worth $4,430,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the second quarter worth approximately $27,000. Raleigh Capital Management Inc. raised its stake in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health in the 2nd quarter valued at $29,000. YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health during the 1st quarter valued at $32,000. Finally, LRI Investments LLC acquired a new stake in shares of Cardinal Health during the 1st quarter worth $32,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH stock opened at $111.84 on Monday. The company’s fifty day moving average price is $105.61 and its two-hundred day moving average price is $104.00. The firm has a market capitalization of $27.24 billion, a P/E ratio of 49.71, a P/E/G ratio of 1.55 and a beta of 0.60. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.05.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The firm had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. During the same quarter in the prior year, the business posted $1.55 earnings per share. Cardinal Health’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 89.78%.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the completion of the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.85, for a total transaction of $435,400.00. Following the sale, the insider now owns 19,242 shares in the company, valued at $2,094,491.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica L. Mayer sold 17,896 shares of Cardinal Health stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares of the company’s stock, valued at approximately $10,065,447.92. The disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock valued at $12,379,980 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Citigroup decreased their target price on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Evercore ISI increased their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $119.36.

Cardinal Health Company 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.