Capital Investment Advisory Services LLC Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Capital Investment Advisory Services LLC cut its position in Cardinal Health, Inc. (NYSE:CAH) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,792 shares of the company’s stock after selling 158 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Cardinal Health were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CAH. Eastern Bank bought a new stake in Cardinal Health during the third quarter valued at $25,000. Frazier Financial Advisors LLC raised its holdings in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares in the last quarter. Hara Capital LLC bought a new stake in shares of Cardinal Health during the 3rd quarter valued at about $31,000. AM Squared Ltd purchased a new position in shares of Cardinal Health during the third quarter worth about $33,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Cardinal Health in the third quarter worth approximately $47,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Down 3.7 %

Shares of NYSE:CAH opened at $123.56 on Friday. The stock has a fifty day simple moving average of $122.03 and a two-hundred day simple moving average of $114.06. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $132.84. The stock has a market capitalization of $29.90 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.55 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly 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 negative return on equity of 56.56% and a net margin of 0.56%. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.84 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a $0.5056 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.64%. Cardinal Health’s payout ratio is currently 39.30%.

Analysts Set New Price Targets

CAH has been the topic of several research reports. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Morgan Stanley lifted their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $132.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Wells Fargo & Company raised their price objective on Cardinal Health from $127.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $135.64.

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.