Advisors Asset Management Inc. Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

Advisors Asset Management Inc. trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 27.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,219 shares of the company’s stock after selling 14,648 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cardinal Health were worth $4,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC increased its position in shares of Cardinal Health by 9.0% in the third quarter. OneDigital Investment Advisors LLC now owns 3,732 shares of the company’s stock valued at $412,000 after acquiring an additional 307 shares during the period. Thrivent Financial for Lutherans increased its holdings in Cardinal Health by 23.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,727 shares of the company’s stock valued at $1,406,000 after purchasing an additional 2,451 shares during the period. Prospera Financial Services Inc bought a new position in Cardinal Health during the 3rd quarter valued at approximately $214,000. Fifth Third Wealth Advisors LLC lifted its holdings in Cardinal Health by 17.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,070 shares of the company’s stock worth $450,000 after buying an additional 593 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Cardinal Health in the 3rd quarter worth approximately $1,280,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAH. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research note on Tuesday, January 7th. Citigroup boosted their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Price Performance

CAH opened at $132.09 on Thursday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $132.84. The stock has a 50-day moving average price of $126.94 and a 200-day moving average price of $119.78. The firm has a market cap of $31.91 billion, a PE ratio of 24.64, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 1.53%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is 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.