Ascent Group LLC Has $513,000 Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Ascent Group LLC decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,581 shares of the company’s stock after selling 181 shares during the quarter. Ascent Group LLC’s holdings in Cardinal Health were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Raymond James & Associates lifted its position in shares of Cardinal Health by 13.4% in the fourth quarter. Raymond James & Associates now owns 289,332 shares of the company’s stock worth $29,165,000 after purchasing an additional 34,214 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in Cardinal Health by 4.1% in the 4th quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock worth $250,000 after buying an additional 98 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Cardinal Health by 22.0% during the 4th quarter. SeaCrest Wealth Management LLC now owns 3,455 shares of the company’s stock valued at $365,000 after buying an additional 623 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Cardinal Health during the 4th quarter valued at $59,000. Finally, Blue Trust Inc. increased its stake in shares of Cardinal Health by 10.2% in the fourth quarter. Blue Trust Inc. now owns 2,575 shares of the company’s stock worth $260,000 after acquiring an additional 239 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CAH. Citigroup reduced their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Wells Fargo & Company reduced their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, July 22nd. Robert W. Baird lifted their target price on shares of Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Finally, Evercore ISI dropped their price target on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.67.

Cardinal Health Stock Performance

Shares of CAH traded up $1.84 during mid-day trading on Tuesday, hitting $100.02. The company’s stock had a trading volume of 247,851 shares, compared to its average volume of 2,137,127. Cardinal Health, Inc. has a one year low of $85.11 and a one year high of $116.04. The stock’s 50-day moving average is $98.01 and its two-hundred day moving average is $103.54. The firm has a market capitalization of $24.36 billion, a PE ratio of 43.64, a price-to-earnings-growth ratio of 1.08 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.5056 per share. The ex-dividend date of this dividend was Monday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.02%. Cardinal Health’s payout ratio is currently 89.78%.

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.