CWA Asset Management Group LLC Has $15.26 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

CWA Asset Management Group LLC boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,052 shares of the company’s stock after purchasing an additional 11,847 shares during the period. Cardinal Health accounts for about 0.8% of CWA Asset Management Group LLC’s portfolio, making the stock its 28th biggest holding. CWA Asset Management Group LLC owned about 0.05% of Cardinal Health worth $15,263,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Cardinal Health in the third quarter valued at approximately $25,000. Frazier Financial Advisors LLC lifted its position in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares in the last quarter. Hara Capital LLC purchased a new position in Cardinal Health in the 3rd quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health in the 2nd quarter worth about $29,000. Finally, AM Squared Ltd purchased a new position in shares of Cardinal Health during the third quarter valued at approximately $33,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Mizuho initiated coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Morgan Stanley lifted their price objective on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Barclays raised their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $145.00 in a research report on Monday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.85.

Cardinal Health Trading Up 1.0 %

Cardinal Health stock traded up $1.25 during mid-day trading on Monday, hitting $120.55. The company had a trading volume of 310,595 shares, compared to its average volume of 1,157,090. The company has a market capitalization of $29.17 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 1.47 and a beta of 0.63. The company’s fifty day moving average is $118.80 and its 200-day moving average is $110.45. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.23.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.73 EPS. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

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.