Allen Mooney & Barnes Investment Advisors LLC Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

Allen Mooney & Barnes Investment Advisors LLC trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,754 shares of the company’s stock after selling 90 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Cardinal Health were worth $930,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Rothschild Investment LLC boosted its holdings in Cardinal Health by 10.1% during the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after buying an additional 79 shares in the last quarter. CSS LLC IL lifted 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 acquiring an additional 90 shares during the period. Private Trust Co. NA lifted its position 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 valued at $110,000 after acquiring an additional 92 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Cardinal Health by 2.7% during the 4th 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 holdings in shares of Cardinal Health by 4.5% in the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after acquiring an additional 94 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 5th. Mizuho lifted their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Citigroup reissued a “neutral” rating on shares of Cardinal Health in a research note on Thursday, May 1st. Finally, Bank of America raised their target price on shares of Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $150.57.

Cardinal Health Stock Up 0.2%

NYSE:CAH opened at $153.34 on Thursday. The company has a market cap of $36.60 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.49 and a beta of 0.66. The firm’s 50 day moving average is $144.62 and its two-hundred day moving average is $132.08. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $157.82.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The business had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same period last year, the company posted $2.08 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. Research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal 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 paid a dividend of $0.5107 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health’s payout ratio is currently 31.83%.

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.