Lowe Brockenbrough & Co. Inc. Sells 500 Shares of Cardinal Health, Inc. (NYSE:CAH)

Lowe Brockenbrough & Co. Inc. trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 17.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,368 shares of the company’s stock after selling 500 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Cardinal Health were worth $280,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CAH. Promus Capital LLC bought a new position in Cardinal Health during the 4th quarter valued at about $30,000. Kentucky Trust Co bought a new position in Cardinal Health during the 4th quarter valued at about $41,000. HHM Wealth Advisors LLC grew its holdings in Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after purchasing an additional 144 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in Cardinal Health by 29.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock valued at $55,000 after purchasing an additional 106 shares during the last quarter. Finally, Quarry LP grew its holdings in Cardinal Health by 541.7% during the 3rd quarter. Quarry LP now owns 616 shares of the company’s stock valued at $68,000 after purchasing an additional 520 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Down 1.0 %

NYSE:CAH opened at $131.80 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $133.67. The firm has a 50 day moving average of $127.35 and a 200 day moving average of $120.00. The stock has a market capitalization of $31.84 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 EPS 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%. As a group, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.53%. Cardinal Health’s payout ratio is 37.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Argus set a $148.00 price objective on shares of Cardinal Health in a research report on Tuesday, February 4th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Mizuho assumed coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

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.