KCM Investment Advisors LLC Has $1.72 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

KCM Investment Advisors LLC raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,570 shares of the company’s stock after buying an additional 721 shares during the quarter. KCM Investment Advisors LLC’s holdings in Cardinal Health were worth $1,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in Cardinal Health by 101.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,558 shares of the company’s stock worth $36,010,000 after purchasing an additional 161,656 shares during the last quarter. Alpha Cubed Investments LLC bought a new position in shares of Cardinal Health in the 3rd quarter worth about $371,000. Bessemer Group Inc. increased its holdings in shares of Cardinal Health by 38.7% in the 1st quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock worth $2,148,000 after purchasing an additional 5,352 shares in the last quarter. Murphy Pohlad Asset Management LLC bought a new stake in Cardinal Health during the second quarter valued at approximately $1,208,000. Finally, Cetera Investment Advisers lifted its holdings in Cardinal Health by 62.7% in the 1st quarter. Cetera Investment Advisers now owns 115,755 shares of the company’s stock worth $12,953,000 after purchasing an additional 44,615 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Insider Transactions at Cardinal Health

In other Cardinal Health news, insider Michelle D. Greene sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $108.85, for a total value of $435,400.00. Following the transaction, the insider now directly owns 19,242 shares of the company’s stock, valued at $2,094,491.70. This trade represents a 17.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aaron E. Alt sold 2,323 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the completion of the transaction, the chief financial officer now directly owns 36,867 shares of the company’s stock, valued at $4,015,184.97. This represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,351 shares of company stock valued at $7,565,843. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on CAH. Mizuho lifted their target price on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Citigroup cut their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Robert W. Baird increased their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company upped their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Price Performance

NYSE:CAH opened at $118.78 on Friday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14. The firm has a market capitalization of $28.75 billion, a P/E ratio of 23.11, a PEG ratio of 1.56 and a beta of 0.60. The company’s fifty day moving average price is $113.14 and its 200-day moving average price is $105.18.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.73 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

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.