PNC Financial Services Group Inc. Purchases 1,179 Shares of Cardinal Health, Inc. (NYSE:CAH)

PNC Financial Services Group Inc. grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,881 shares of the company’s stock after purchasing an additional 1,179 shares during the period. PNC Financial Services Group Inc.’s holdings in Cardinal Health were worth $8,738,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC lifted its stake in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Promus Capital LLC bought a new position in Cardinal Health during the 4th quarter worth approximately $30,000. AM Squared Ltd purchased a new position in Cardinal Health in the 3rd quarter worth approximately $33,000. Kentucky Trust Co purchased a new position in Cardinal Health in the 4th quarter worth approximately $41,000. Finally, HHM Wealth Advisors LLC increased its stake in Cardinal Health by 57.6% in the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.3 %

NYSE CAH opened at $124.25 on Wednesday. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84. The firm has a market capitalization of $30.01 billion, a PE ratio of 23.18, a P/E/G ratio of 1.49 and a beta of 0.66. The stock’s 50 day moving average is $125.82 and its 200 day moving average is $119.08.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.63%. Cardinal Health’s dividend payout ratio is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAH. Morgan Stanley lifted their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Citigroup lifted their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $139.36.

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.