SVB Wealth LLC Makes New $231,000 Investment in Cardinal Health, Inc. (NYSE:CAH)

SVB Wealth LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,957 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after purchasing an additional 627,253 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after buying an additional 42,082 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Cardinal Health by 4.7% during the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after buying an additional 191,568 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cardinal Health by 2.3% during 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 buying an additional 33,388 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after buying an additional 346,362 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $127.50 on Thursday. The firm has a 50-day simple moving average of $125.28 and a two-hundred day simple moving average of $118.57. The company has a market cap of $30.80 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share 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%. Equities research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.5056 dividend. 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 (DPR) is currently 37.69%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CAH. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a report on Tuesday, January 7th. Argus set a $148.00 price objective on shares of Cardinal Health in a report on Tuesday, February 4th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $145.00 in a report on Monday, January 6th. Finally, Mizuho began coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.