Mather Group LLC. Cuts Stake in Cardinal Health, Inc. (NYSE:CAH)

Mather Group LLC. reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 18.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,456 shares of the company’s stock after selling 1,229 shares during the quarter. Mather Group LLC.’s holdings in Cardinal Health were worth $603,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cultivar Capital Inc. purchased a new position in Cardinal Health in the second quarter worth $27,000. Raleigh Capital Management Inc. grew its holdings in Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the last quarter. LRI Investments LLC purchased a new position in Cardinal Health in the first quarter worth $32,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health during the second quarter valued at $29,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Cardinal Health during the first quarter valued at $34,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the transaction, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jason M. Hollar sold 26,716 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total transaction of $2,908,570.92. Following the completion of the transaction, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares of the company’s stock, valued at approximately $21,546,276.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,963 shares of company stock worth $12,379,980. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CAH. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Argus boosted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley boosted their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, UBS Group boosted their price objective on shares of Cardinal Health from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $119.36.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $114.54 on Thursday. The firm has a 50-day simple moving average of $109.30 and a two-hundred day simple moving average of $103.92. The company has a market cap of $27.90 billion, a P/E ratio of 50.91, a price-to-earnings-growth ratio of 1.33 and a beta of 0.60. Cardinal Health, Inc. has a fifty-two week low of $90.19 and a fifty-two week high of $116.05.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to the consensus estimate of $58.74 billion. Cardinal Health had a net margin of 0.37% and a negative return on equity of 54.85%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Equities research analysts forecast that Cardinal Health, Inc. will post 7.62 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be given a $0.506 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is 89.78%.

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.