Cardinal Health, Inc. (NYSE:CAH) Stake Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 34.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,644 shares of the company’s stock after selling 86,987 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Cardinal Health worth $19,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kentucky Trust Co purchased a new stake in shares of Cardinal Health during the fourth quarter worth $41,000. Community Bank & Trust Waco Texas lifted its stake in shares of Cardinal Health by 4.3% in the fourth quarter. Community Bank & Trust Waco Texas now owns 5,409 shares of the company’s stock worth $640,000 after buying an additional 225 shares during the last quarter. JSF Financial LLC bought a new position in Cardinal Health in the 4th quarter worth $967,000. Essex Financial Services Inc. acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $213,000. Finally, Angeles Wealth Management LLC bought a new stake in Cardinal Health during the 4th quarter valued at approximately $205,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Cowen raised 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 report on Wednesday, January 8th. Mizuho started coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Morgan Stanley raised their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $136.87.

Cardinal Health Trading Down 0.3 %

NYSE:CAH opened at $126.35 on Monday. The stock has a market capitalization of $30.52 billion, a PE ratio of 23.57, a P/E/G ratio of 1.49 and a beta of 0.63. The firm has a fifty day simple moving average of $122.85 and a 200 day simple moving average of $116.41. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 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.