Naples Global Advisors LLC Sells 1,006 Shares of Cardinal Health, Inc. (NYSE:CAH)

Naples Global Advisors LLC trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 8.8% during the fourth quarter, Holdings Channel reports. The firm owned 10,385 shares of the company’s stock after selling 1,006 shares during the quarter. Naples Global Advisors LLC’s holdings in Cardinal Health were worth $1,228,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. MWA Asset Management increased its position in Cardinal Health by 2.9% during the fourth quarter. MWA Asset Management now owns 3,324 shares of the company’s stock worth $393,000 after buying an additional 95 shares during the last quarter. Paragon Capital Management Inc. boosted its stake in shares of Cardinal Health by 0.7% during the 3rd quarter. Paragon Capital Management Inc. now owns 14,857 shares of the company’s stock worth $1,642,000 after acquiring an additional 99 shares during the period. Huntington National Bank boosted its stake in shares of Cardinal Health by 0.9% during the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after acquiring an additional 100 shares during the period. Frazier Financial Advisors LLC increased its holdings 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 worth $28,000 after acquiring an additional 104 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in Cardinal Health by 29.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock valued at $55,000 after acquiring an additional 106 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

CAH opened at $127.16 on Friday. The firm has a market cap of $30.72 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The business’s fifty day moving average is $122.78 and its 200-day moving average is $115.99. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.59%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analysts Set New Price Targets

CAH has been the subject of a number of research analyst reports. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. UBS Group increased their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Citigroup increased their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.87.

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.