Kingswood Wealth Advisors LLC Takes $315,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Kingswood Wealth Advisors LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,662 shares of the company’s stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Cardinal Health by 10.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,982 shares of the company’s stock worth $1,890,000 after buying an additional 1,505 shares during the last quarter. Jamison Private Wealth Management Inc. increased its stake in Cardinal Health by 2.7% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 24,461 shares of the company’s stock valued at $2,893,000 after acquiring an additional 648 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Cardinal Health by 20.1% during the fourth quarter. First Citizens Bank & Trust Co. now owns 3,031 shares of the company’s stock valued at $358,000 after purchasing an additional 508 shares in the last quarter. Patton Albertson Miller Group LLC bought a new stake in Cardinal Health during the fourth quarter worth about $258,000. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of Cardinal Health by 7.0% in the 4th quarter. Flagship Harbor Advisors LLC now owns 4,521 shares of the company’s stock worth $535,000 after purchasing an additional 295 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Morgan Stanley increased their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday. Barclays boosted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their price objective on Cardinal Health from $127.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.64.

Cardinal Health Trading Down 3.7 %

Shares of NYSE CAH opened at $123.56 on Friday. The firm has a fifty day simple moving average of $122.03 and a two-hundred day simple moving average of $114.06. The firm has a market capitalization of $29.90 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.84 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a dividend of $0.5056 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.64%. Cardinal Health’s dividend payout ratio (DPR) is currently 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.