85,056 Shares in Cardinal Health, Inc. $CAH Acquired by First Nebraska Trust Co

First Nebraska Trust Co acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 85,056 shares of the company’s stock, valued at approximately $17,973,000. Cardinal Health makes up about 1.7% of First Nebraska Trust Co’s portfolio, making the stock its 13th biggest position.

Several other institutional investors have also added to or reduced their stakes in CAH. Vanguard Group Inc. boosted its position in shares of Cardinal Health by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 31,441,258 shares of the company’s stock valued at $6,461,179,000 after buying an additional 617,775 shares during the last quarter. State Street Corp boosted its holdings in shares of Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock valued at $2,570,647,000 after acquiring an additional 221,497 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cardinal Health by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after acquiring an additional 43,924 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock worth $911,010,000 after acquiring an additional 3,511,579 shares during the period. Finally, Norges Bank bought a new stake in shares of Cardinal Health in the fourth quarter worth approximately $790,344,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAH has been the topic of a number of research analyst reports. Robert W. Baird set a $248.00 price objective on shares of Cardinal Health in a research report on Friday, May 1st. William Blair assumed coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Morgan Stanley boosted their target price on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. TD Cowen increased their price target on Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.73.

Cardinal Health Price Performance

Shares of CAH stock opened at $230.18 on Friday. The company has a market cap of $53.91 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a 1 year low of $137.75 and a 1 year high of $243.21. The firm has a fifty day moving average price of $222.95 and a 200-day moving average price of $215.30.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The company had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. During the same period last year, the firm earned $2.35 EPS. Cardinal Health’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts expect that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.5158 dividend. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Wednesday, July 1st. Cardinal Health’s dividend payout ratio is 31.50%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.