Cardinal Health, Inc. (NYSE:CAH) Stake Decreased by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 45.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,172 shares of the company’s stock after selling 1,818 shares during the quarter. Summit Trail Advisors LLC’s holdings in Cardinal Health were worth $257,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Cardinal Health in the third quarter worth $25,000. Frazier Financial Advisors LLC lifted its holdings in 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 purchasing an additional 104 shares during the period. Hara Capital LLC bought a new position in Cardinal Health in the 3rd quarter valued at about $31,000. AM Squared Ltd acquired a new position in Cardinal Health during the 3rd quarter valued at about $33,000. Finally, HHM Wealth Advisors LLC raised its position in shares of Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after buying an additional 144 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Down 1.0 %

Cardinal Health stock opened at $127.09 on Thursday. The company has a market capitalization of $30.70 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84. The firm’s fifty day simple moving average is $122.69 and its 200-day simple moving average is $115.91.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.59%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CAH shares. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. 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. Mizuho began coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Citigroup upped their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.87.

About Cardinal Health

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.