LMG Wealth Partners LLC Buys 756 Shares of Cardinal Health, Inc. (NYSE:CAH)

LMG Wealth Partners LLC lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,807 shares of the company’s stock after purchasing an additional 756 shares during the period. Cardinal Health makes up about 2.3% of LMG Wealth Partners LLC’s holdings, making the stock its 9th biggest position. LMG Wealth Partners LLC’s holdings in Cardinal Health were worth $10,740,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cardinal Health by 35.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock valued at $3,871,000 after buying an additional 8,471 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in shares of Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after acquiring an additional 3,576 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the period. Consolidated Planning Corp lifted its position in shares of Cardinal Health by 40.0% in the 4th quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock valued at $1,056,000 after acquiring an additional 2,552 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

CAH opened at $126.63 on Thursday. The stock has a 50-day moving average of $123.25 and a 200-day moving average of $116.81. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The company has a market cap of $30.59 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CAH. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Citigroup raised their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. upped their target price on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.87.

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.