Retirement Systems of Alabama Sells 659 Shares of Cardinal Health, Inc. (NYSE:CAH)

Retirement Systems of Alabama lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 0.1% in the 4th quarter, Holdings Channel reports. The firm owned 471,052 shares of the company’s stock after selling 659 shares during the quarter. Retirement Systems of Alabama’s holdings in Cardinal Health were worth $55,711,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Paragon Capital Management Inc. increased its holdings in Cardinal Health by 0.7% during the third quarter. Paragon Capital Management Inc. now owns 14,857 shares of the company’s stock valued at $1,642,000 after buying an additional 99 shares during the period. Huntington National Bank grew its holdings in Cardinal Health by 0.9% in 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 during the last quarter. Frazier Financial Advisors LLC grew its holdings in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Cardinal Health by 4.9% during the third quarter. UMB Bank n.a. now owns 2,249 shares of the company’s stock worth $249,000 after buying an additional 106 shares during the period. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Cardinal Health by 29.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock worth $55,000 after buying an additional 106 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAH shares. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday. Morgan Stanley lifted their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. 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 report on Tuesday, January 7th. Finally, UBS Group lifted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.93.

Cardinal Health Stock Performance

Shares of CAH stock opened at $125.29 on Wednesday. The firm has a market cap of $30.27 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.46 and a beta of 0.63. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The firm’s 50 day moving average price is $122.16 and its 200-day moving average price is $114.75.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping 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, research analysts predict that Cardinal Health, Inc. will post 7.92 EPS 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 issued 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 1.61%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Cardinal Health Company 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.