M&T Bank Corp Boosts Stake in Cardinal Health, Inc. (NYSE:CAH)

M&T Bank Corp increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,684 shares of the company’s stock after purchasing an additional 358 shares during the quarter. M&T Bank Corp’s holdings in Cardinal Health were worth $3,393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CAH. Frazier Financial Advisors LLC raised its stake in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. AM Squared Ltd bought a new stake in shares of Cardinal Health during the third quarter valued at approximately $33,000. Kentucky Trust Co purchased a new position in shares of Cardinal Health in the fourth quarter worth $41,000. HHM Wealth Advisors LLC boosted its position in shares of Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after acquiring an additional 144 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in Cardinal Health by 29.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock valued at $55,000 after acquiring an additional 106 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 0.5 %

Shares of CAH opened at $126.40 on Friday. The company’s fifty day simple moving average is $125.58 and its 200-day simple moving average is $118.82. The company has a market cap of $30.53 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share 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%. Analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm 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 dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Argus set a $148.00 price target on shares of Cardinal Health in a research note on Tuesday, February 4th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Wells Fargo & Company raised their price target on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.36.

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.