Wealthspire Advisors LLC Lowers Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Wealthspire Advisors LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,541 shares of the company’s stock after selling 96 shares during the period. Wealthspire Advisors LLC’s holdings in Cardinal Health were worth $419,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in Cardinal Health by 5.2% in the third quarter. Assenagon Asset Management S.A. now owns 10,930 shares of the company’s stock valued at $1,208,000 after acquiring an additional 545 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cardinal Health by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,049 shares of the company’s stock worth $2,640,000 after purchasing an additional 4,253 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Cardinal Health by 93.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,065 shares of the company’s stock worth $5,091,000 after purchasing an additional 22,267 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Cardinal Health by 20.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 98,389 shares of the company’s stock worth $10,874,000 after buying an additional 16,820 shares during the last quarter. Finally, abrdn plc raised its position in Cardinal Health by 2.3% in the 3rd quarter. abrdn plc now owns 724,944 shares of the company’s stock worth $79,932,000 after buying an additional 16,569 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $127.31 on Thursday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84. The company has a market capitalization of $30.75 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.49 and a beta of 0.63. The business has a 50 day simple moving average of $124.31 and a two-hundred day simple moving average of $117.79.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping 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%. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAH. Morgan Stanley upped their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target 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 began coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

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.