Whittier Trust Co. of Nevada Inc. Raises Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Whittier Trust Co. of Nevada Inc. grew its position in Cardinal Health, Inc. (NYSE:CAH) by 349.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,835 shares of the company’s stock after acquiring an additional 2,204 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Cardinal Health were worth $391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Cardinal Health during the 4th quarter worth about $246,748,000. Marshall Wace LLP raised its stake in Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock valued at $372,756,000 after acquiring an additional 1,913,892 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Cardinal Health during the 4th quarter valued at approximately $141,963,000. GAMMA Investing LLC raised its stake in shares of Cardinal Health by 17,589.1% during the 1st quarter. GAMMA Investing LLC now owns 964,941 shares of the company’s stock worth $132,940,000 after buying an additional 959,486 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $92,811,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 1.0%

Shares of NYSE:CAH opened at $159.49 on Friday. The company’s fifty day moving average is $158.45 and its two-hundred day moving average is $139.91. Cardinal Health, Inc. has a 12-month low of $94.29 and a 12-month high of $168.44. The company has a market cap of $38.07 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 1.60 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. The business had revenue of $54.88 billion for the quarter, compared to analysts’ expectations of $55.33 billion. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. Cardinal Health’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 EPS. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.5107 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is currently 31.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAH shares. Citigroup reiterated a “neutral” rating and set a $170.00 target price (up previously from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. UBS Group increased their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Bank of America increased their target price on Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Finally, Robert W. Baird raised their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.07.

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.