5 Best Dividend Aristocrats to Buy for 2022

4. Cardinal Health, Inc. (NYSE:CAH)

Dividend Yield as of January 14: 3.70%

Number of Hedge Fund Holders: 36

Number of Years of Dividend Increases: 34

Cardinal Health, Inc. (NYSE:CAH) is an American multinational healthcare company that manufactures medical and surgical products. The company provides a 3.70% yield as of January 14, offering 34 years of back-to-back dividend increases.  

On November 4, Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend per share of $0.4908, in line with previous, that was paid on January 15 to shareholders of record on January 3. 

Cardinal Health, Inc. (NYSE:CAH) posted its third quarter results on November 9, reporting earnings per share of $1.29, missing estimates by $0.06. Revenue for the period jumped 12.55% year-over-year to $43.97 billion, surpassing estimates by $2.14 billion. 

Barclays analyst Steve Valiquette lowered the price target on Cardinal Health, Inc. (NYSE:CAH) to $63 from $65 and kept an Overweight rating on the shares on January 11, since the analyst remains positive on the healthcare distribution subsector in 2022. 

Among the hedge funds tracked by Insider Monkey in the third quarter, 36 funds were bullish on Cardinal Health, Inc. (NYSE:CAH), down from 40 funds in the prior quarter. Pzena Investment Management is the largest Cardinal Health, Inc. (NYSE:CAH) stakeholder, with 2.95 million shares worth $146.2 million.