Retirement Systems of Alabama Has $52.13 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Retirement Systems of Alabama lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 471,711 shares of the company’s stock after selling 40,036 shares during the period. Retirement Systems of Alabama’s holdings in Cardinal Health were worth $52,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Cardinal Health by 16.7% in the second quarter. Sequoia Financial Advisors LLC now owns 5,492 shares of the company’s stock worth $540,000 after acquiring an additional 787 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Cardinal Health by 9.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 10,385 shares of the company’s stock valued at $1,021,000 after purchasing an additional 891 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in Cardinal Health in the second quarter valued at approximately $105,000. Blue Trust Inc. increased its holdings in shares of Cardinal Health by 41.5% during the second quarter. Blue Trust Inc. now owns 3,400 shares of the company’s stock worth $334,000 after buying an additional 998 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Cardinal Health by 15.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 18,694 shares of the company’s stock valued at $1,838,000 after acquiring an additional 2,488 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock traded down $0.22 during mid-day trading on Friday, hitting $117.24. 45,827 shares of the stock were exchanged, compared to its average volume of 2,095,069. The company has a market capitalization of $28.37 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.47 and a beta of 0.61. The company has a 50-day simple moving average of $117.00 and a 200 day simple moving average of $108.20. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.23.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analyst Ratings Changes

CAH has been the topic of a number of research reports. Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $101.00 to $127.00 in a report on Friday. Robert W. Baird increased their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Morgan Stanley boosted their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.75.

Cardinal Health 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.