Sovereign Investment Advisors LLC Invests $361,000 in Cardinal Health, Inc. (NYSE:CAH)

Sovereign Investment Advisors LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,055 shares of the company’s stock, valued at approximately $361,000.

A number of other large investors have also modified their holdings of CAH. Atria Investments Inc increased its position in shares of Cardinal Health by 7.5% during the third quarter. Atria Investments Inc now owns 12,810 shares of the company’s stock worth $1,416,000 after acquiring an additional 899 shares during the period. Prime Capital Investment Advisors LLC grew its stake in shares of Cardinal Health by 11.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,618 shares of the company’s stock worth $510,000 after purchasing an additional 472 shares in the last quarter. Huntington National Bank grew its stake in shares of Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after purchasing an additional 100 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of Cardinal Health by 2.0% during the third quarter. Metis Global Partners LLC now owns 12,346 shares of the company’s stock worth $1,364,000 after purchasing an additional 237 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in shares of Cardinal Health by 9.0% during the third quarter. OneDigital Investment Advisors LLC now owns 3,732 shares of the company’s stock worth $412,000 after purchasing an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CAH. Mizuho began coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price for the company. Citigroup upped their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Morgan Stanley upped their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $128.20 on Friday. The company has a 50-day simple moving average of $126.33 and a 200-day simple moving average of $119.38. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The stock has a market capitalization of $30.97 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 1.49 and a beta of 0.66.

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 net margin of 0.59% and a negative return on equity of 59.57%. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.58%. Cardinal Health’s dividend payout ratio is currently 37.69%.

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.