Philip James Wealth Mangement LLC Decreases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Philip James Wealth Mangement LLC trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,856 shares of the company’s stock after selling 1,096 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Cardinal Health were worth $1,757,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CAH. Bleakley Financial Group LLC raised its position in shares of Cardinal Health by 6.4% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,497 shares of the company’s stock valued at $497,000 after buying an additional 272 shares in the last quarter. V Square Quantitative Management LLC raised its position in Cardinal Health by 8.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,361 shares of the company’s stock worth $371,000 after purchasing an additional 253 shares during the period. Blue Trust Inc. raised its position in Cardinal Health by 61.9% in the 3rd quarter. Blue Trust Inc. now owns 5,503 shares of the company’s stock worth $608,000 after purchasing an additional 2,103 shares during the period. Raymond James & Associates raised its position in Cardinal Health by 7.4% in the 3rd quarter. Raymond James & Associates now owns 309,960 shares of the company’s stock worth $34,257,000 after purchasing an additional 21,414 shares during the period. Finally, Buckley Wealth Management LLC raised its position in Cardinal Health by 3.7% in the 3rd quarter. Buckley Wealth Management LLC now owns 11,392 shares of the company’s stock worth $1,259,000 after purchasing an additional 405 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on CAH shares. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley upped their target price 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. Finally, Barclays upped their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.87.

Cardinal Health Stock Performance

NYSE CAH opened at $126.35 on Monday. The firm’s 50 day moving average price is $122.85 and its 200-day moving average price is $116.41. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The company has a market cap of $30.52 billion, a PE ratio of 23.57, a P/E/G ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating 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, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.60%. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

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.