ING Groep NV Takes $9.26 Million Position in Cardinal Health, Inc. (NYSE:CAH)

ING Groep NV purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 83,812 shares of the company's stock, valued at approximately $9,263,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Cardinal Health during the second quarter valued at approximately $90,440,000. Acadian Asset Management LLC boosted its holdings in Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company's stock valued at $416,585,000 after acquiring an additional 598,002 shares during the period. Jupiter Asset Management Ltd. bought a new position in Cardinal Health in the 1st quarter valued at $56,454,000. Jacobs Levy Equity Management Inc. increased its stake in Cardinal Health by 265.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company's stock worth $73,577,000 after purchasing an additional 477,682 shares during the period. Finally, Swedbank AB bought a new stake in shares of Cardinal Health during the first quarter worth $48,673,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cardinal Health

In other news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total transaction 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 approximately $4,015,184.97. The trade was a 5.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the transaction, the chief executive officer now directly owns 197,636 shares in the company, valued at approximately $21,546,276.72. The trade was a 19.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,351 shares of company stock worth $7,565,843. Insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CAH shares. Barclays upped their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a "hold" rating in a research note on Monday, November 4th. UBS Group increased their price objective on Cardinal Health from $134.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, StockNews.com lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $123.00.

Cardinal Health Stock Performance

CAH traded down $2.51 on Friday, hitting $118.78. The company had a trading volume of 2,204,617 shares, compared to its average volume of 2,112,748. The stock has a market capitalization of $28.75 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 1.56 and a beta of 0.60. The stock has a fifty day moving average price of $113.14 and a 200-day moving average price of $105.18. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate 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%. Cardinal Health's revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. Analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health's dividend payout ratio (DPR) is presently 39.30%.

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.