Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Assetmark Inc.

Assetmark Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 25.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,561 shares of the company's stock after acquiring an additional 7,692 shares during the quarter. Assetmark Inc.'s holdings in Cardinal Health were worth $4,151,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Paragon Capital Management Inc. boosted its holdings in shares of Cardinal Health by 0.7% in the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company's stock worth $1,451,000 after buying an additional 99 shares during the last quarter. Midland Wealth Advisors LLC raised its stake in Cardinal Health by 4.2% during the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company's stock worth $245,000 after acquiring an additional 100 shares during the period. Aptus Capital Advisors LLC raised its stake in Cardinal Health by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company's stock worth $204,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company's stock worth $2,054,000 after acquiring an additional 100 shares during the period. Finally, Blair William & Co. IL raised its stake in Cardinal Health by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company's stock worth $1,125,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Insider Activity at Cardinal Health

In related news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the sale, the chief executive officer now directly owns 197,636 shares in the company, valued at $21,546,276.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction dated 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 sale, the chief financial officer now directly owns 36,867 shares in the company, valued at $4,015,184.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the transaction, the chief executive officer now owns 197,636 shares of the company's stock, valued at $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,963 shares of company stock worth $12,379,980 over the last three months. 0.09% of the stock is owned by corporate insiders.

Cardinal Health Stock Performance

NYSE CAH traded up $1.82 on Wednesday, hitting $125.33. 4,736,940 shares of the stock were exchanged, compared to its average volume of 2,107,132. The firm has a market capitalization of $30.33 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.54 and a beta of 0.60. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14. The stock has a fifty day moving average price of $112.58 and a two-hundred day moving average price of $104.81.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business's revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 earnings per share. Sell-side analysts expect that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.61%. Cardinal Health's payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Evercore ISI raised 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 note on Thursday, August 15th. Citigroup decreased their target price on shares of Cardinal Health from $115.00 to $107.00 and set a "neutral" rating on the stock in a research note on Friday, July 19th. StockNews.com cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 3rd. Finally, JPMorgan Chase & Co. lifted their price objective 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $123.00.

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.