Advisor OS LLC Buys 1,650 Shares of Cardinal Health, Inc. (NYSE:CAH)

Advisor OS LLC increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 35.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,293 shares of the company’s stock after buying an additional 1,650 shares during the period. Advisor OS LLC’s holdings in Cardinal Health were worth $619,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health during the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. grew its holdings 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 valued at $28,000 after buying an additional 268 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health during the first quarter valued at approximately $32,000. LRI Investments LLC purchased a new stake in shares of Cardinal Health during the first quarter valued at approximately $32,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Cardinal Health during the first quarter valued at approximately $34,000. 87.17% of the stock is owned by institutional investors.

Insider Transactions at Cardinal Health

In related news, CEO Jason M. Hollar sold 46,455 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the sale, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the transaction, the chief executive officer now directly owns 197,636 shares of the company’s stock, valued at $21,546,276.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jason M. Hollar sold 26,716 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the transaction, the chief executive officer now directly owns 244,091 shares in the company, valued at $26,574,187.17. 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 90 days. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CAH. Citigroup lowered their price objective 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. Morgan Stanley increased their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Argus lowered their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Evercore ISI increased their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. One investment 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.45.

Cardinal Health Stock Performance

CAH stock opened at $111.77 on Friday. Cardinal Health, Inc. has a 12 month low of $85.82 and a 12 month high of $116.05. The stock has a market cap of $27.22 billion, a PE ratio of 49.68, a P/E/G ratio of 1.54 and a beta of 0.60. The company has a 50-day moving average price of $102.29 and a 200 day moving average price of $103.90.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same quarter in the previous year, the business posted $1.55 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.61 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $0.506 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is presently 89.78%.

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.