Allianz Asset Management GmbH Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Allianz Asset Management GmbH decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 11.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 958,051 shares of the company’s stock after selling 124,463 shares during the period. Allianz Asset Management GmbH’s holdings in Cardinal Health were worth $113,309,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Cardinal Health by 35.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock worth $3,871,000 after buying an additional 8,471 shares during the period. CHURCHILL MANAGEMENT Corp grew its position in shares of Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock worth $28,435,000 after acquiring an additional 3,576 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the period. Consolidated Planning Corp raised its position in Cardinal Health by 40.0% in the 4th quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock valued at $1,056,000 after purchasing an additional 2,552 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after purchasing an additional 33,388 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAH has been the topic of several research reports. Mizuho assumed coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their target price on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $136.87.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $126.96 on Friday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The firm has a market capitalization of $30.67 billion, a P/E ratio of 23.69, a PEG ratio of 1.49 and a beta of 0.63. The company’s fifty day moving average is $123.62 and its two-hundred day moving average is $117.08.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data 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%. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

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.