Arete Wealth Advisors LLC Sells 3,426 Shares of Cardinal Health, Inc. (NYSE:CAH)

Arete Wealth Advisors LLC trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 54.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,883 shares of the company’s stock after selling 3,426 shares during the period. Arete Wealth Advisors LLC’s holdings in Cardinal Health were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Paragon Capital Management Inc. raised its position in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after purchasing an additional 99 shares during the period. Midland Wealth Advisors LLC grew its stake in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Cardinal Health by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after acquiring an additional 100 shares in the last quarter. Finally, Huntington National Bank grew its stake in Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after acquiring an additional 100 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CAH shares. Argus raised their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $101.00 to $127.00 in a research note on Friday. Morgan Stanley raised their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, UBS Group lifted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.75.

Cardinal Health Trading Up 0.5 %

CAH stock opened at $118.06 on Friday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.23. The company has a 50-day moving average price of $117.12 and a 200 day moving average price of $108.35. The stock has a market cap of $28.57 billion, a PE ratio of 22.97, a P/E/G ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the previous year, the company earned $1.73 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.71%. Cardinal Health’s payout ratio is 39.30%.

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.