Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC reduced its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,697 shares of the company's stock after selling 16,735 shares during the quarter. Capital Investment Advisors LLC owned approximately 0.06% of Cardinal Health worth $15,550,000 as of its most recent filing with the Securities and Exchange Commission.

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

Cardinal Health Price Performance

CAH traded up $0.48 on Friday, reaching $112.41. The company's stock had a trading volume of 1,369,588 shares, compared to its average volume of 2,086,768. The stock has a market cap of $27.38 billion, a price-to-earnings ratio of 49.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $90.19 and a 1 year high of $116.05. The business's 50 day moving average is $111.00 and its 200 day moving average is $103.96.

Cardinal Health (NYSE:CAH - Get Free Report) 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. The firm had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. Cardinal Health's revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.55 earnings per share. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.506 per share. The ex-dividend date was Tuesday, October 1st. This represents a $2.02 annualized dividend and a yield of 1.80%. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is presently 89.78%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore ISI upped their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an "in-line" rating in a research note on Thursday, August 15th. UBS Group upped their price target on Cardinal Health from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Wells Fargo & Company upped their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an "underweight" rating in a research note on Thursday, August 15th. Morgan Stanley upped their price target on Cardinal Health from $114.00 to $119.00 and gave the stock an "overweight" rating in a research note on Thursday, August 15th. Finally, StockNews.com raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $119.36.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $108.91, for a total transaction of $252,997.93. Following the sale, the chief financial officer now owns 36,867 shares in the company, valued at $4,015,184.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was 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 in the company, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold 113,963 shares of company stock worth $12,379,980 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Cardinal Health 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.