Graypoint LLC Purchases 1,828 Shares of Cardinal Health, Inc. (NYSE:CAH)

Graypoint LLC lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 76.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,208 shares of the company’s stock after buying an additional 1,828 shares during the quarter. Graypoint LLC’s holdings in Cardinal Health were worth $498,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Geode Capital Management LLC raised its position 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. Charles Schwab Investment Management Inc. boosted its position in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after buying an additional 33,388 shares during the period. Alpha Cubed Investments LLC bought a new position in shares of Cardinal Health during the third quarter worth about $371,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Cardinal Health in the 3rd quarter valued at approximately $1,691,000. Finally, National Wealth Management Group LLC bought a new stake in Cardinal Health in the 3rd quarter valued at approximately $903,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $121.70 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.23. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 1.47 and a beta of 0.63. The business has a fifty day simple moving average of $119.88 and a two-hundred day simple moving average of $111.01.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.66%. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CAH. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the stock from $130.00 to $144.00 in a research note on Wednesday. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $145.00 in a research note on Monday, January 6th. UBS Group increased their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, 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 report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $133.29.

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.