Kwmg LLC Lowers Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Kwmg LLC trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 131,061 shares of the company’s stock after selling 1,453 shares during the period. Cardinal Health makes up approximately 1.6% of Kwmg LLC’s holdings, making the stock its 16th largest position. Kwmg LLC’s holdings in Cardinal Health were worth $14,666,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new position in Cardinal Health in the fourth quarter worth about $209,000. Mather Group LLC. boosted its holdings in shares of Cardinal Health by 2.5% during the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock valued at $673,000 after acquiring an additional 164 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Cardinal Health by 86.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock valued at $6,998,000 after buying an additional 32,250 shares during the period. Nordea Investment Management AB lifted its holdings in Cardinal Health by 50.5% in the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after acquiring an additional 61,933 shares during the period. Finally, Vest Financial LLC boosted its position in Cardinal Health by 15.9% in the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after purchasing an additional 38,769 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday. Wells Fargo & Company decreased their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Evercore ISI increased their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Robert W. Baird decreased their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, Argus dropped their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Stock Down 2.1 %

Shares of CAH stock traded down $2.17 on Wednesday, hitting $100.96. The stock had a trading volume of 1,075,059 shares, compared to its average volume of 2,195,128. Cardinal Health, Inc. has a one year low of $85.11 and a one year high of $116.04. The business has a 50 day moving average price of $100.31 and a 200 day moving average price of $104.65. The company has a market cap of $24.59 billion, a PE ratio of 44.95, a P/E/G ratio of 1.17 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $56.05 billion. During the same period last year, the company posted $1.74 earnings per share. Cardinal Health’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.5056 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is presently 88.89%.

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.