Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its position in Cardinal Health, Inc. (NYSE:CAH) by 54.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 57,955 shares of the company’s stock after acquiring an additional 20,394 shares during the period. Assetmark Inc.’s holdings in Cardinal Health were worth $6,854,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CAH. Frazier Financial Advisors LLC raised 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 during the period. Hara Capital LLC acquired a new stake in Cardinal Health during the third quarter worth $31,000. AM Squared Ltd purchased a new stake in Cardinal Health in the third quarter valued at $33,000. Kentucky Trust Co purchased a new position in shares of Cardinal Health during the 4th quarter worth $41,000. Finally, HHM Wealth Advisors LLC increased its position in shares of Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.5 %

NYSE CAH opened at $126.40 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $132.84. The firm has a 50 day moving average of $125.43 and a two-hundred day moving average of $118.63. The stock has a market capitalization of $30.53 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Wall Street Analyst Weigh In

A number of research firms have commented on CAH. Argus set a $148.00 target price on shares of Cardinal Health in a research report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Mizuho began coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $139.36.

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.