Alpha Cubed Investments LLC Sells 311 Shares of Cardinal Health, Inc. (NYSE:CAH)

Alpha Cubed Investments LLC lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.3% in the fourth quarter, Holdings Channel reports. The firm owned 3,045 shares of the company’s stock after selling 311 shares during the period. Alpha Cubed Investments LLC’s holdings in Cardinal Health were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Eastern Bank acquired a new stake in shares of Cardinal Health in the third quarter worth $25,000. Frazier Financial Advisors LLC raised its holdings in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC acquired a new position in Cardinal Health during the 3rd quarter worth $31,000. AM Squared Ltd bought a new stake in Cardinal Health during the third quarter valued at about $33,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of Cardinal Health in the third quarter valued at about $47,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAH. Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. Citigroup boosted their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Morgan Stanley raised their price target on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Trading Up 1.2 %

NYSE CAH opened at $127.81 on Wednesday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $127.89. The stock’s 50 day moving average is $120.92 and its two-hundred day moving average is $112.47. The company has a market capitalization of $30.93 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.54 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

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.