Cetera Advisors LLC Has $5.11 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Cetera Advisors LLC raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 492.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,623 shares of the company’s stock after purchasing an additional 37,920 shares during the period. Cetera Advisors LLC’s holdings in Cardinal Health were worth $5,105,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in shares of Cardinal Health by 62.7% during the first quarter. Cetera Investment Advisers now owns 115,755 shares of the company’s stock worth $12,953,000 after buying an additional 44,615 shares in the last quarter. Atria Investments Inc acquired a new position in shares of Cardinal Health during the first quarter worth $1,601,000. Swedbank AB acquired a new position in shares of Cardinal Health during the first quarter worth $48,673,000. LRI Investments LLC acquired a new position in shares of Cardinal Health during the first quarter worth $32,000. Finally, Wahed Invest LLC grew its stake in shares of Cardinal Health by 14.2% in the first quarter. Wahed Invest LLC now owns 4,806 shares of the company’s stock worth $538,000 after purchasing an additional 599 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of CAH stock traded down $1.79 on Friday, reaching $101.60. 2,613,341 shares of the company were exchanged, compared to its average volume of 1,790,428. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 1.14 and a beta of 0.61. The company has a 50-day moving average of $98.44 and a 200-day moving average of $103.45. Cardinal Health, Inc. has a one year low of $85.11 and a one year high of $116.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 EPS. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is currently 89.78%.

Analyst Ratings Changes

Several analysts recently weighed in on CAH shares. Wells Fargo & Company reduced their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Argus reduced 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 note on Wednesday, May 15th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Citigroup reduced 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 note on Friday, July 19th. Finally, Evercore ISI reduced their price objective on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Cardinal Health 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.