KMG Fiduciary Partners LLC Sells 21,510 Shares of Cardinal Health, Inc. (NYSE:CAH)

KMG Fiduciary Partners LLC decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 26.9% during the 1st quarter, Holdings Channel reports. The firm owned 58,467 shares of the company’s stock after selling 21,510 shares during the period. KMG Fiduciary Partners LLC’s holdings in Cardinal Health were worth $8,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CAH. DAVENPORT & Co LLC grew its holdings in shares of Cardinal Health by 3.3% in the fourth quarter. DAVENPORT & Co LLC now owns 5,740 shares of the company’s stock worth $679,000 after purchasing an additional 182 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cardinal Health by 35.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock valued at $3,871,000 after acquiring an additional 8,471 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Cardinal Health by 144.6% in the fourth quarter. Bleakley Financial Group LLC now owns 10,998 shares of the company’s stock valued at $1,301,000 after acquiring an additional 6,501 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Cardinal Health in the fourth quarter valued at $93,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Cardinal Health by 2.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,998 shares of the company’s stock valued at $3,311,000 after acquiring an additional 636 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.4%

Shares of Cardinal Health stock opened at $154.68 on Friday. The firm has a market capitalization of $36.92 billion, a P/E ratio of 28.86, a P/E/G ratio of 1.49 and a beta of 0.66. The business has a fifty day simple moving average of $143.52 and a two-hundred day simple moving average of $131.51. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $157.82.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. Analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 31.83%.

Analyst Ratings Changes

Several analysts recently weighed in on CAH shares. Robert W. Baird lifted their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. UBS Group lifted their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Bank of America lifted their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Citigroup reiterated a “neutral” rating on shares of Cardinal Health in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $149.50.

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.