Cetera Investment Advisers Has $10.08 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Cetera Investment Advisers reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,529 shares of the company’s stock after selling 13,226 shares during the quarter. Cetera Investment Advisers’ holdings in Cardinal Health were worth $10,081,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. J. W. Coons Advisors LLC lifted its stake in Cardinal Health by 0.6% in the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock valued at $1,681,000 after buying an additional 100 shares during the period. Edmonds Duncan Registered Investment Advisors LLC boosted its stake in Cardinal Health by 5.0% during the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock worth $234,000 after acquiring an additional 100 shares in the last quarter. Midland Wealth Advisors LLC grew its holdings in Cardinal Health by 4.2% in the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the period. Aptus Capital Advisors LLC increased its stake in Cardinal Health by 5.1% in the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after purchasing an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after purchasing an additional 100 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 1.5 %

CAH stock opened at $111.98 on Friday. The stock has a market cap of $27.27 billion, a P/E ratio of 49.77, a P/E/G ratio of 1.33 and a beta of 0.60. Cardinal Health, Inc. has a 1-year low of $89.00 and a 1-year high of $116.05. The stock’s fifty day simple moving average is $108.50 and its two-hundred day simple moving average is $103.96.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.55 earnings per share. As a group, analysts forecast that Cardinal Health, Inc. will post 7.62 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.506 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAH. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Wells Fargo & Company boosted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. UBS Group increased their target price on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, Argus lifted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now directly owns 94,529 shares of the company’s stock, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the sale, the insider now owns 94,529 shares of the company’s stock, valued at $10,065,447.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Aaron E. Alt sold 2,323 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,963 shares of company stock worth $12,379,980 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

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.