Sumitomo Mitsui Trust Group Inc. Sells 1,679 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 619,829 shares of the company’s stock after selling 1,679 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Cardinal Health were worth $73,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. Eastern Bank bought a new position in shares of Cardinal Health in the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC boosted its position in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Hara Capital LLC bought a new position in Cardinal Health in the third quarter valued at approximately $31,000. AM Squared Ltd acquired a new position in shares of Cardinal Health during the 3rd quarter worth approximately $33,000. Finally, Carolina Wealth Advisors LLC bought a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $47,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Morgan Stanley lifted their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $145.00 in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company upped their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $136.87.

Cardinal Health Price Performance

CAH stock opened at $127.62 on Monday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84. The stock has a market capitalization of $30.83 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.49 and a beta of 0.63. The business’s fifty day moving average price is $122.46 and its two-hundred day moving average price is $115.41.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 37.69%.

Cardinal Health Company 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.