Cibc World Market Inc. Increases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Cibc World Market Inc. increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAHGet Rating) by 17.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,395 shares of the company’s stock after buying an additional 661 shares during the quarter. Cibc World Market Inc.’s holdings in Cardinal Health were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CAH. Manchester Capital Management LLC lifted its holdings in shares of Cardinal Health by 60.4% during the 1st quarter. Manchester Capital Management LLC now owns 494 shares of the company’s stock worth $28,000 after acquiring an additional 186 shares during the period. LS Investment Advisors LLC purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at $27,000. CX Institutional acquired a new stake in shares of Cardinal Health during the 2nd quarter worth $33,000. Retirement Group LLC raised its position in shares of Cardinal Health by 100.0% in the 2nd quarter. Retirement Group LLC now owns 862 shares of the company’s stock worth $45,000 after buying an additional 431 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its holdings in Cardinal Health by 195.0% in the second quarter. FinTrust Capital Advisors LLC now owns 885 shares of the company’s stock valued at $50,000 after acquiring an additional 585 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE:CAH opened at $78.44 on Friday. The firm has a 50-day moving average of $72.50 and a two-hundred day moving average of $63.82. The stock has a market cap of $20.56 billion, a P/E ratio of 12.82, a PEG ratio of 1.34 and a beta of 0.80. Cardinal Health, Inc. has a 1-year low of $45.85 and a 1-year high of $81.57.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Tuesday, January 3rd will be given a $0.4957 dividend. The ex-dividend date of this dividend is Friday, December 30th. This represents a $1.98 dividend on an annualized basis and a yield of 2.53%. Cardinal Health’s payout ratio is currently 32.35%.

Insider Buying and Selling at Cardinal Health

In other Cardinal Health news, insider Ola M. Snow sold 19,590 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $78.87, for a total value of $1,545,063.30. Following the completion of the transaction, the insider now directly owns 31,187 shares of the company’s stock, valued at approximately $2,459,718.69. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAH. Bank Of America (Bofa) upgraded Cardinal Health from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $64.00 to $80.00 in a report on Friday, November 4th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 11th. Mizuho increased their price objective on shares of Cardinal Health from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, November 14th. Morgan Stanley lifted their target price on shares of Cardinal Health from $76.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, November 7th. Finally, UBS Group upped their price target on shares of Cardinal Health from $61.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, August 29th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cardinal Health has an average rating of “Hold” and an average price target of $76.45.

About Cardinal Health

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Cardinal Health, Inc operates as an integrated 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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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