Welch Group LLC Makes New $208,000 Investment in Cardinal Health, Inc. (NYSE:CAH)

Welch Group LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,528 shares of the company’s stock, valued at approximately $208,000.

Other large investors have also recently modified their holdings of the company. Rothschild Investment LLC lifted its position in Cardinal Health by 10.1% during the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock valued at $101,000 after purchasing an additional 79 shares during the last quarter. CSS LLC IL raised its position in shares of Cardinal Health by 0.8% during the 4th quarter. CSS LLC IL now owns 11,190 shares of the company’s stock valued at $1,323,000 after buying an additional 90 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Cardinal Health by 11.0% during the 4th quarter. Private Trust Co. NA now owns 930 shares of the company’s stock worth $110,000 after acquiring an additional 92 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Cardinal Health by 2.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock worth $411,000 after acquiring an additional 93 shares in the last quarter. Finally, TIAA Trust National Association grew its position in Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.3%

Shares of NYSE CAH opened at $154.46 on Friday. The firm’s fifty day moving average is $141.70 and its 200 day moving average is $130.26. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $156.44. The company has a market cap of $36.87 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion for the quarter, compared to analysts’ expectations of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 earnings per share. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.5107 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.32%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is 31.83%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CAH shares. Argus set a $148.00 price target on Cardinal Health in a research note on Tuesday, February 4th. Mizuho boosted their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. UBS Group upped their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Morgan Stanley lifted their price target on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Robert W. Baird boosted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.43.

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.