AlphaQuest LLC Sells 9,003 Shares of Cardinal Health, Inc. (NYSE:CAH)

AlphaQuest LLC lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 38.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,317 shares of the company’s stock after selling 9,003 shares during the quarter. AlphaQuest LLC’s holdings in Cardinal Health were worth $1,693,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after purchasing an additional 627,253 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares in the last quarter. Amundi lifted its holdings in shares of Cardinal Health by 5.5% in the fourth quarter. Amundi now owns 2,116,291 shares of the company’s stock valued at $259,309,000 after purchasing an additional 110,605 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cardinal Health by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock valued at $179,653,000 after purchasing an additional 44,386 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $126.40 on Friday. The firm has a market cap of $30.53 billion, a PE ratio of 23.58, a PEG ratio of 1.49 and a beta of 0.66. The stock’s fifty day moving average price is $125.58 and its two-hundred day moving average price is $118.82. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $132.84.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating 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 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Argus set a $148.00 price target on Cardinal Health in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $139.36.

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.