Aaron Wealth Advisors LLC Sells 1,612 Shares of Cardinal Health, Inc. (NYSE:CAH)

Aaron Wealth Advisors LLC lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,927 shares of the company’s stock after selling 1,612 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Cardinal Health were worth $1,056,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Eastern Bank bought a new position in shares of Cardinal Health during the third quarter valued at $25,000. Frazier Financial Advisors LLC lifted its holdings in 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 purchasing an additional 104 shares during the last quarter. Hara Capital LLC acquired a new position in Cardinal Health in the third quarter valued at about $31,000. AM Squared Ltd bought a new stake in Cardinal Health during the third quarter worth about $33,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of Cardinal Health during the third quarter worth approximately $47,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group boosted their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Tuesday, January 7th. Morgan Stanley upped their price target on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Mizuho started coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $126.27 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $127.27. The stock has a market capitalization of $30.56 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.48 and a beta of 0.63. The firm has a fifty day moving average of $120.75 and a two-hundred day moving average of $111.92.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 earnings per share. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.5056 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.60%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.