Brighton Jones LLC Has $614,000 Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Brighton Jones LLC boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,457 shares of the company’s stock after purchasing an additional 339 shares during the quarter. Brighton Jones LLC’s holdings in Cardinal Health were worth $614,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Cardinal Health during the 1st quarter worth $199,000. Hennessy Advisors Inc. bought a new stake in shares of Cardinal Health during the 1st quarter valued at $2,948,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Cardinal Health by 15.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,790 shares of the company’s stock valued at $4,931,000 after acquiring an additional 4,693 shares during the last quarter. Goldstone Financial Group LLC bought a new stake in shares of Cardinal Health during the 1st quarter valued at $200,000. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Cardinal Health by 0.8% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 11,981 shares of the company’s stock valued at $1,651,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CAH shares. Morgan Stanley set a $181.00 target price on shares of Cardinal Health and gave the company an “overweight” rating in a research report on Friday. Robert W. Baird upped their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Citigroup restated a “neutral” rating and issued a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research report on Friday. Wells Fargo & Company upgraded Cardinal Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $162.43 on Tuesday. The company has a 50-day simple moving average of $146.79 and a 200 day simple moving average of $133.04. The company has a market capitalization of $38.77 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $162.94.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business had revenue of $54.88 billion for the quarter, compared to analysts’ expectations of $55.33 billion. During the same period last year, the firm posted $2.08 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given 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 1.26%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health’s payout ratio is currently 31.83%.

Cardinal Health Profile

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.