Brendel Financial Advisors LLC Sells 3,478 Shares of Cardinal Health, Inc. (NYSE:CAH)

Brendel Financial Advisors LLC trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 9.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,201 shares of the company’s stock after selling 3,478 shares during the period. Cardinal Health comprises about 2.1% of Brendel Financial Advisors LLC’s portfolio, making the stock its 15th largest holding. Brendel Financial Advisors LLC’s holdings in Cardinal Health were worth $3,246,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Cornerstone Planning Group LLC purchased a new position in Cardinal Health in the third quarter worth about $26,000. BKM Wealth Management LLC purchased a new position in Cardinal Health in the fourth quarter worth about $30,000. Retirement Group LLC boosted its position in Cardinal Health by 1,539.3% in the fourth quarter. Retirement Group LLC now owns 459 shares of the company’s stock worth $35,000 after purchasing an additional 431 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Cardinal Health in the fourth quarter worth about $36,000. Finally, ICA Group Wealth Management LLC purchased a new position in Cardinal Health in the fourth quarter worth about $41,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Up 2.1 %

NYSE CAH traded up $2.19 during trading hours on Friday, reaching $108.19. The company’s stock had a trading volume of 1,486,096 shares, compared to its average volume of 1,448,336. The firm’s 50-day moving average price is $109.59 and its 200-day moving average price is $104.30. Cardinal Health, Inc. has a 1 year low of $77.56 and a 1 year high of $116.04. The company has a market capitalization of $26.32 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same quarter in the previous year, the company posted $1.32 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

Wall Street Analyst Weigh In

CAH has been the topic of a number of analyst reports. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Barclays initiated coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price objective on the stock. SVB Leerink initiated coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective on the stock. UBS Group lifted their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, three have assigned 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.07.

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.