Avitas Wealth Management LLC Invests $1.47 Million in Cardinal Health, Inc. (NYSE:CAH)

Avitas Wealth Management LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 12,395 shares of the company’s stock, valued at approximately $1,466,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Eastern Bank bought a new stake in shares of Cardinal Health in the 3rd quarter valued at approximately $25,000. Frazier Financial Advisors LLC increased 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 valued at $28,000 after purchasing an additional 104 shares during the last quarter. Hara Capital LLC bought a new stake in Cardinal Health during the third quarter valued at $31,000. AM Squared Ltd bought a new position in shares of Cardinal Health in the 3rd quarter worth about $33,000. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Cardinal Health by 57.6% in the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.0 %

Shares of CAH stock opened at $125.29 on Wednesday. The stock has a 50-day simple moving average of $122.16 and a 200 day simple moving average of $114.75. The stock has a market capitalization of $30.27 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.46 and a beta of 0.63. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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 net margin of 0.59% and a negative return on equity of 59.57%. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.92 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.61%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CAH shares. Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Morgan Stanley boosted their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Mizuho initiated coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.93.

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.