Independent Advisor Alliance Acquires 1,713 Shares of Cardinal Health, Inc. (NYSE:CAH)

Independent Advisor Alliance boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 10.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,534 shares of the company’s stock after buying an additional 1,713 shares during the quarter. Independent Advisor Alliance’s holdings in Cardinal Health were worth $2,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Frazier Financial Advisors LLC boosted its stake in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Promus Capital LLC acquired a new stake in Cardinal Health in the fourth quarter valued at approximately $30,000. AM Squared Ltd bought a new stake in shares of Cardinal Health during the third quarter worth $33,000. Kentucky Trust Co acquired a new position in shares of Cardinal Health during the fourth quarter worth $41,000. Finally, HHM Wealth Advisors LLC lifted its stake in shares of Cardinal Health by 57.6% in the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.5 %

Shares of Cardinal Health stock opened at $126.24 on Friday. The company has a market cap of $30.49 billion, a P/E ratio of 23.55, a PEG ratio of 1.49 and a beta of 0.66. The business has a 50-day moving average price of $125.99 and a two-hundred day moving average price of $119.14. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Mizuho assumed coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Argus set a $148.00 price objective on shares of Cardinal Health in a report on Tuesday, February 4th. Morgan Stanley boosted their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $139.36.

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.