AlphaQuest LLC Trims Stake in Cardinal Health, Inc. (NYSE:CAH)

AlphaQuest LLC trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 38.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,317 shares of the company’s stock after selling 9,003 shares during the quarter. AlphaQuest LLC’s holdings in Cardinal Health were worth $1,693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Rothschild Investment LLC lifted its stake in Cardinal Health by 10.1% during the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after purchasing an additional 79 shares during the last quarter. Private Trust Co. NA lifted its stake in Cardinal Health by 11.0% during the fourth quarter. Private Trust Co. NA now owns 930 shares of the company’s stock worth $110,000 after purchasing an additional 92 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock worth $411,000 after purchasing an additional 93 shares during the last quarter. MWA Asset Management lifted its stake 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 purchasing an additional 95 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its stake in Cardinal Health by 3.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 2,735 shares of the company’s stock worth $323,000 after purchasing an additional 96 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

CAH opened at $126.40 on Friday. The business has a 50 day simple moving average of $125.58 and a two-hundred day simple moving average of $118.82. The firm has a market capitalization of $30.53 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS 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%. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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 issued a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.60%. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Argus set a $148.00 price target on Cardinal Health in a research note on Tuesday, February 4th. Morgan Stanley lifted their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Mizuho started coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average 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.