Rhumbline Advisers Sells 51,439 Shares of Cardinal Health, Inc. (NYSE:CAH)

Rhumbline Advisers cut its position in shares of Cardinal Health, Inc. (NYSE:CAHGet Rating) by 8.2% during the second quarter, HoldingsChannel.com reports. The firm owned 574,742 shares of the company’s stock after selling 51,439 shares during the period. Rhumbline Advisers’ holdings in Cardinal Health were worth $30,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its position in Cardinal Health by 5.0% in the first quarter. BlackRock Inc. now owns 23,108,919 shares of the company’s stock valued at $1,310,275,000 after acquiring an additional 1,109,613 shares during the period. State Street Corp grew its position in Cardinal Health by 2.1% in the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after acquiring an additional 457,777 shares during the period. Invesco Ltd. grew its position in Cardinal Health by 9.0% in the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after acquiring an additional 511,826 shares during the period. ProShare Advisors LLC grew its position in Cardinal Health by 2.8% in the first quarter. ProShare Advisors LLC now owns 3,098,173 shares of the company’s stock valued at $175,667,000 after acquiring an additional 84,919 shares during the period. Finally, Federated Hermes Inc. grew its position in Cardinal Health by 53.1% in the first quarter. Federated Hermes Inc. now owns 2,758,050 shares of the company’s stock valued at $156,381,000 after acquiring an additional 956,502 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

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

Cardinal Health Stock Down 0.6 %

Shares of CAH opened at $78.44 on Thursday. Cardinal Health, Inc. has a 12-month low of $45.85 and a 12-month high of $81.57. The firm has a market capitalization of $20.56 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.80. The stock’s fifty day simple moving average is $72.26 and its 200-day simple moving average is $63.72.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Tuesday, January 3rd will be paid a dividend of $0.4957 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, December 30th. Cardinal Health’s dividend payout ratio (DPR) is presently 32.35%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Cowen upped their price target on Cardinal Health from $59.00 to $72.00 and gave the company a “market perform” rating in a research report on Tuesday, August 16th. Barclays upped their price target on Cardinal Health to $67.00 in a research report on Monday, August 15th. Credit Suisse Group boosted their price objective on Cardinal Health from $64.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday. Cowen boosted their price objective on Cardinal Health from $59.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 16th. Finally, Robert W. Baird boosted their price objective on Cardinal Health from $74.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 7th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cardinal Health has a consensus rating of “Hold” and a consensus price target of $76.45.

Cardinal Health Company Profile

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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.

See Also

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAHGet Rating).

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

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