B. Riley Wealth Advisors Inc. Has $1.11 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

B. Riley Wealth Advisors Inc. lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 1.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,310 shares of the company’s stock after selling 132 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Cardinal Health were worth $1,112,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cultivar Capital Inc. bought a new position in Cardinal Health during the 2nd quarter worth about $27,000. Raleigh Capital Management Inc. boosted its position in shares of Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the period. YHB Investment Advisors Inc. bought a new position in shares of Cardinal Health during the first quarter worth about $32,000. LRI Investments LLC acquired a new stake in Cardinal Health in the 1st quarter valued at approximately $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health in the 2nd quarter valued at approximately $29,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cardinal Health

In related news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health 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 completion of the sale, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at approximately $4,015,184.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Michelle D. Greene sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction that occurred 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 owns 36,867 shares of the company’s stock, valued at $4,015,184.97. The disclosure for this sale can be found here. Insiders sold a total of 113,963 shares of company stock worth $12,379,980 over the last quarter. Company insiders own 0.15% of the company’s stock.

Cardinal Health Trading Up 0.1 %

Shares of NYSE CAH opened at $110.33 on Friday. Cardinal Health, Inc. has a 12 month low of $86.70 and a 12 month high of $116.05. The stock has a 50 day moving average of $107.96 and a 200-day moving average of $103.90. The company has a market capitalization of $26.87 billion, a P/E ratio of 49.04, a P/E/G ratio of 1.33 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. The firm had revenue of $59.87 billion for the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 earnings per share. Analysts predict that Cardinal Health, Inc. will post 7.62 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. The ex-dividend date is Tuesday, October 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a yield of 1.83%. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CAH shares. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Citigroup cut their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Robert W. Baird raised their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Evercore ISI upped their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.36.

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.