7,133 Shares in Cardinal Health, Inc. (NYSE:CAH) Acquired by Allstate Corp

Allstate Corp bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,133 shares of the company’s stock, valued at approximately $844,000.

Other large investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Cardinal Health during the 3rd quarter worth $1,691,000. Public Sector Pension Investment Board increased its stake in Cardinal Health by 12.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,637 shares of the company’s stock worth $1,176,000 after purchasing an additional 1,200 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Cardinal Health during the 3rd quarter worth about $202,000. Paloma Partners Management Co acquired a new stake in Cardinal Health during the 3rd quarter worth about $283,000. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Cardinal Health by 802.5% in the third quarter. Benjamin Edwards Inc. now owns 4,630 shares of the company’s stock worth $512,000 after buying an additional 4,117 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Argus set a $148.00 price target 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 increased their price objective for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Morgan Stanley upped their target price on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.

Cardinal Health Stock Up 1.0 %

Shares of CAH opened at $137.83 on Tuesday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $138.62. The company’s fifty day moving average is $128.60 and its 200-day moving average is $121.03. The firm has a market cap of $33.29 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

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

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 1.47%. Cardinal Health’s payout ratio is currently 37.69%.

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.