Bank of America Corp DE increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 40.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,213,338 shares of the company's stock after purchasing an additional 351,855 shares during the quarter. Bank of America Corp DE owned approximately 0.45% of Cardinal Health worth $68,798,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank increased its position in Cardinal Health by 10.6% during the 1st quarter. Swiss National Bank now owns 1,220,509 shares of the company's stock worth $69,203,000 after purchasing an additional 116,600 shares in the last quarter. Mutual Advisors LLC increased its position in Cardinal Health by 16.0% during the 1st quarter. Mutual Advisors LLC now owns 8,087 shares of the company's stock worth $459,000 after purchasing an additional 1,114 shares in the last quarter. Hightower 6M Holding LLC acquired a new position in Cardinal Health during the 1st quarter worth approximately $226,000. Rockefeller Capital Management L.P. increased its position in Cardinal Health by 8.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 29,711 shares of the company's stock valued at $1,529,000 after acquiring an additional 2,342 shares during the period. Finally, Herold Advisors Inc. acquired a new position in Cardinal Health in the 1st quarter valued at approximately $167,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of CAH stock opened at $66.05 on Monday. The firm has a 50-day moving average of $65.20 and a 200-day moving average of $59.45. The company has a market cap of $18.00 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.48 and a beta of 0.77. The company has a debt-to-equity ratio of 5.33, a current ratio of 1.08 and a quick ratio of 0.57. Cardinal Health, Inc. has a one year low of $45.85 and a one year high of $72.28.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be issued a dividend of $0.4957 per share. The ex-dividend date is Friday, September 30th. This represents a $1.98 dividend on an annualized basis and a yield of 3.00%. Cardinal Health's dividend payout ratio (DPR) is presently 29.73%.

Analysts Set New Price Targets

CAH has been the subject of several recent research reports. Barclays upped their price target on shares of Cardinal Health to $67.00 in a research report on Monday, August 15th. Cowen upped their price target on shares of Cardinal Health from $59.00 to $72.00 and gave the company a "market perform" rating in a research report on Tuesday, August 16th. UBS Group upped their price target on shares of Cardinal Health from $61.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, August 29th. Mizuho upped their price target on shares of Cardinal Health from $58.00 to $66.00 in a research report on Friday, August 12th. Finally, StockNews.com raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 12th. Seven equities 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, the company has an average rating of "Hold" and an average price target of $70.20.

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.

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