Venturi Wealth Management LLC Grows Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Venturi Wealth Management LLC increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 86.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,812 shares of the company’s stock after buying an additional 838 shares during the period. Venturi Wealth Management LLC’s holdings in Cardinal Health were worth $214,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CAH. Sequoia Financial Advisors LLC raised its stake in Cardinal Health by 39.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 7,670 shares of the company’s stock valued at $848,000 after purchasing an additional 2,178 shares during the last quarter. Signaturefd LLC raised its stake in Cardinal Health by 18.7% in the 3rd quarter. Signaturefd LLC now owns 2,701 shares of the company’s stock valued at $298,000 after purchasing an additional 425 shares during the last quarter. Eastern Bank acquired a new position in Cardinal Health in the 3rd quarter valued at about $25,000. International Assets Investment Management LLC raised its stake in Cardinal Health by 59.7% in the 3rd quarter. International Assets Investment Management LLC now owns 248,878 shares of the company’s stock valued at $275,060,000 after purchasing an additional 93,016 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Cardinal Health by 5.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,930 shares of the company’s stock valued at $1,208,000 after purchasing an additional 545 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Citigroup upped their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $136.87.

Cardinal Health Stock Performance

CAH opened at $126.96 on Friday. The firm has a 50 day moving average price of $123.62 and a 200 day moving average price of $117.08. The company has a market cap of $30.67 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $132.84.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 37.69%.

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.