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

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 619,829 shares of the company’s stock after selling 1,679 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Cardinal Health worth $73,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Perpetual Ltd bought a new stake in shares of Cardinal Health during the third quarter valued at approximately $208,000. UMB Bank n.a. lifted its holdings in Cardinal Health by 4.9% during the 3rd quarter. UMB Bank n.a. now owns 2,249 shares of the company’s stock worth $249,000 after buying an additional 106 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Cardinal Health by 868.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,799 shares of the company’s stock valued at $641,000 after buying an additional 5,200 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in shares of Cardinal Health by 10.0% in the 3rd quarter. Gateway Investment Advisers LLC now owns 6,120 shares of the company’s stock valued at $676,000 after buying an additional 555 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Cardinal Health by 48.0% during the third quarter. Exchange Traded Concepts LLC now owns 8,875 shares of the company’s stock worth $981,000 after acquiring an additional 2,880 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CAH. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Citigroup upped their target price 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. Finally, StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.87.

Cardinal Health Price Performance

NYSE:CAH opened at $127.62 on Monday. The business’s 50-day simple moving average is $122.46 and its 200-day simple moving average is $115.41. 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 PE ratio of 23.81, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating 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, research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company 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 dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 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.