State of Alaska Department of Revenue Sells 715 Shares of Cardinal Health, Inc. (NYSE:CAH)

State of Alaska Department of Revenue decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 56,791 shares of the company’s stock after selling 715 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cardinal Health were worth $6,716,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC increased its stake in Cardinal Health by 144.6% during the fourth quarter. Bleakley Financial Group LLC now owns 10,998 shares of the company’s stock worth $1,301,000 after acquiring an additional 6,501 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cardinal Health by 35.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock worth $3,871,000 after purchasing an additional 8,471 shares during the period. Avitas Wealth Management LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $1,466,000. E. Ohman J or Asset Management AB lifted its position in Cardinal Health by 15.0% in the fourth quarter. E. Ohman J or Asset Management AB now owns 11,500 shares of the company’s stock worth $1,360,000 after buying an additional 1,500 shares during the last quarter. Finally, Patron Partners LLC boosted its stake in Cardinal Health by 6.1% during the fourth quarter. Patron Partners LLC now owns 2,043 shares of the company’s stock worth $242,000 after buying an additional 117 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Up 0.4 %

Shares of NYSE:CAH opened at $127.62 on Friday. The firm has a 50 day moving average of $122.46 and a 200 day moving average of $115.14. The company has a market capitalization of $30.83 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth 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.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping 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%. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.92 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAH. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Evercore ISI upgraded 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. JPMorgan Chase & Co. increased their target price on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Morgan Stanley raised their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.87.

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.