iA Global Asset Management Inc. Has $1.65 Million Position in Cardinal Health, Inc. (NYSE:CAH)

iA Global Asset Management Inc. lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 49.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,940 shares of the company’s stock after selling 13,409 shares during the quarter. iA Global Asset Management Inc.’s holdings in Cardinal Health were worth $1,649,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CAH. OneDigital Investment Advisors LLC grew its position in Cardinal Health by 9.0% during the third quarter. OneDigital Investment Advisors LLC now owns 3,732 shares of the company’s stock worth $412,000 after buying an additional 307 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Cardinal Health by 23.9% during the third quarter. Thrivent Financial for Lutherans now owns 12,727 shares of the company’s stock worth $1,406,000 after buying an additional 2,451 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in Cardinal Health during the third quarter worth approximately $214,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Cardinal Health during the third quarter worth approximately $1,280,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Cardinal Health by 2.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 72,702 shares of the company’s stock valued at $8,035,000 after purchasing an additional 1,528 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $131.80 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $133.67. The company has a market capitalization of $31.84 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The business has a 50-day moving average of $127.35 and a 200-day moving average of $120.00.

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

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.53%. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CAH shares. Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Argus set a $148.00 target price on Cardinal Health in a report on Tuesday, February 4th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $145.00 in a report on Monday, January 6th. Mizuho started coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Finally, TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Company 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.