1620 Investment Advisors Inc. Buys 118 Shares of Cardinal Health, Inc. (NYSE:CAH)

1620 Investment Advisors Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,056 shares of the company’s stock after purchasing an additional 118 shares during the period. 1620 Investment Advisors Inc.’s holdings in Cardinal Health were worth $338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eastern Bank bought a new stake in shares of Cardinal Health during the 3rd quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health during the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the 2nd quarter worth approximately $29,000. LRI Investments LLC purchased a new stake in Cardinal Health in the first quarter valued at about $32,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Cardinal Health in the first quarter worth $34,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cardinal Health

In other Cardinal Health news, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total value of $1,905,566.08. Following the sale, the insider now owns 94,529 shares in the company, valued at $10,065,447.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jason M. Hollar sold 26,716 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 244,091 shares in the company, valued at approximately $26,574,187.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica L. Mayer sold 17,896 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $1,905,566.08. Following the completion of the transaction, the insider now owns 94,529 shares in the company, valued at approximately $10,065,447.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,963 shares of company stock worth $12,379,980. Insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $107.89 on Thursday. The firm’s fifty day moving average price is $111.65 and its two-hundred day moving average price is $104.10. Cardinal Health, Inc. has a fifty-two week low of $90.19 and a fifty-two week high of $116.05. The company has a market capitalization of $26.28 billion, a P/E ratio of 47.95, a P/E/G ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The company had revenue of $59.87 billion for the quarter, compared to analyst estimates of $58.74 billion. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. Cardinal Health’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.55 earnings per share. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.61 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a $0.506 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. Cardinal Health’s dividend payout ratio is presently 89.78%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CAH shares. Morgan Stanley raised their price objective on Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Robert W. Baird raised their target price on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 26th. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI upped their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $120.18.

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.