Belpointe Asset Management LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 22.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,931 shares of the company’s stock after selling 1,132 shares during the period. Belpointe Asset Management LLC’s holdings in Cardinal Health were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. SJS Investment Consulting Inc. raised its position in shares of Cardinal Health by 888.6% in the 4th quarter. SJS Investment Consulting Inc. now owns 346 shares of the company’s stock worth $27,000 after acquiring an additional 311 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in Cardinal Health in the third quarter worth about $28,000. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $36,000. Capital Advisors Ltd. LLC grew its position in shares of Cardinal Health by 29.5% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 589 shares of the company’s stock worth $39,000 after buying an additional 134 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 88.93% of the company’s stock.
Wall Street Analyst Weigh In
CAH has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $88.00 to $90.00 in a report on Monday, May 8th. UBS Group raised their price target on Cardinal Health from $91.00 to $93.00 in a report on Friday, May 5th. TheStreet upgraded shares of Cardinal Health from a “d+” rating to a “b-” rating in a report on Thursday, May 4th. Robert W. Baird upgraded shares of Cardinal Health from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $87.00 to $94.00 in a research note on Friday, February 3rd. Finally, Credit Suisse Group lifted their price objective on shares of Cardinal Health from $89.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health has a consensus rating of “Hold” and a consensus target price of $82.23.
Cardinal Health Stock Down 0.1 %
Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. Cardinal Health had a net margin of 0.23% and a negative return on equity of 81.55%. The business had revenue of $50.50 billion for the quarter, compared to analysts’ expectations of $49.63 billion. During the same quarter last year, the company earned $1.45 EPS. The business’s revenue was up 12.6% on a year-over-year basis. Equities analysts expect that Cardinal Health, Inc. will post 5.63 EPS for the current year.
Cardinal Health Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd will be given a dividend of $0.5006 per share. The ex-dividend date is Friday, June 30th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.36%. Cardinal Health’s dividend payout ratio (DPR) is 114.94%.
About Cardinal Health
Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.
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