Chevy Chase Trust Holdings LLC Has $13.09 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 133,170 shares of the company’s stock after selling 1,732 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Cardinal Health worth $13,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. J. W. Coons Advisors LLC lifted its stake in Cardinal Health by 0.6% in the 4th quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock valued at $1,681,000 after purchasing an additional 100 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC boosted its holdings in shares of Cardinal Health by 5.0% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock valued at $234,000 after acquiring an additional 100 shares in the last quarter. Checchi Capital Advisers LLC grew its position in Cardinal Health by 3.2% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,758 shares of the company’s stock worth $421,000 after acquiring an additional 115 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its position in Cardinal Health by 12.5% in the first quarter. Financial Management Professionals Inc. now owns 1,073 shares of the company’s stock valued at $120,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Insider Transactions at Cardinal Health

In related news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total value of $5,064,524.10. Following the transaction, the chief executive officer now owns 197,636 shares in the company, valued at $21,546,276.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jason M. Hollar sold 46,455 shares of Cardinal Health stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $109.02, for a total value of $5,064,524.10. Following the completion of the transaction, the chief executive officer now directly owns 197,636 shares in the company, valued at approximately $21,546,276.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason M. Hollar sold 26,716 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 directly owns 244,091 shares of the company’s stock, valued at approximately $26,574,187.17. The disclosure for this sale can be found here. Insiders have sold 97,390 shares of company stock worth $10,567,059 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH stock traded up $1.24 on Wednesday, hitting $110.12. The stock had a trading volume of 423,821 shares, compared to its average volume of 2,135,053. The business has a 50 day moving average of $99.80 and a 200 day moving average of $103.24. Cardinal Health, Inc. has a 12-month low of $85.11 and a 12-month high of $116.04. The stock has a market cap of $26.82 billion, a price-to-earnings ratio of 48.71, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same quarter last year, the business posted $1.55 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.02 annualized dividend and a dividend yield of 1.84%. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Morgan Stanley raised their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Argus lowered their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, UBS Group lifted their target price on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.45.

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.