Patron Partners LLC Acquires 117 Shares of Cardinal Health, Inc. (NYSE:CAH)

Patron Partners LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,043 shares of the company’s stock after purchasing an additional 117 shares during the quarter. Patron Partners LLC’s holdings in Cardinal Health were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp boosted its holdings in Cardinal Health by 1.5% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after purchasing an additional 33,388 shares during the period. Alpha Cubed Investments LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $371,000. Finally, Patton Albertson Miller Group LLC acquired a new stake in shares of Cardinal Health during the fourth quarter valued at $258,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

NYSE CAH opened at $125.56 on Tuesday. The firm has a market capitalization of $30.33 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 1.46 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The company’s fifty day moving average is $122.11 and its two-hundred day moving average is $114.53.

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, 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%. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.92 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.61%. Cardinal Health’s dividend payout ratio is 37.69%.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of research analyst reports. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research report on Tuesday, January 7th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. UBS Group upped their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on Cardinal Health from $132.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, 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 report on Friday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $135.64.

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.