Williams Jones Wealth Management LLC. Invests $232,000 in Cardinal Health, Inc. (NYSE:CAH)

Williams Jones Wealth Management LLC. acquired a new position in Cardinal Health, Inc. (NYSE:CAH) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,070 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Aaron Wealth Advisors LLC increased its stake in shares of Cardinal Health by 1.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock worth $844,000 after acquiring an additional 97 shares during the period. Schechter Investment Advisors LLC boosted its holdings in Cardinal Health by 4.1% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock worth $250,000 after buying an additional 98 shares in the last quarter. J. W. Coons Advisors LLC boosted its holdings in Cardinal Health by 0.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after buying an additional 100 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC boosted its holdings in Cardinal Health by 5.0% during the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock worth $234,000 after buying an additional 100 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in Cardinal Health by 3.2% during the first quarter. Checchi Capital Advisers LLC now owns 3,758 shares of the company’s stock worth $421,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of several recent analyst reports. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. Argus decreased their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Wells Fargo & Company cut their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Robert W. Baird raised their price objective on shares of Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Finally, Evercore ISI cut their price objective on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.00.

Cardinal Health Stock Up 0.5 %

Cardinal Health stock traded up $0.52 during trading on Wednesday, reaching $95.93. The stock had a trading volume of 32,646 shares, compared to its average volume of 2,179,922. The stock has a market cap of $23.37 billion, a PE ratio of 42.40, a P/E/G ratio of 1.03 and a beta of 0.61. Cardinal Health, Inc. has a 52-week low of $85.11 and a 52-week high of $116.04. The business has a 50 day moving average price of $98.33 and a 200 day moving average price of $104.03.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 EPS. On average, equities analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is currently 89.78%.

Cardinal Health 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.