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

iA Global Asset Management Inc. trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 49.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,940 shares of the company’s stock after selling 13,409 shares during the period. iA Global Asset Management Inc.’s holdings in Cardinal Health were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Promus Capital LLC acquired a new position in shares of Cardinal Health during the fourth quarter worth about $30,000. Kentucky Trust Co acquired a new position in shares of Cardinal Health during the fourth quarter worth about $41,000. HHM Wealth Advisors LLC boosted its position in shares of Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after buying an additional 144 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Cardinal Health by 29.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock worth $55,000 after buying an additional 106 shares during the period. Finally, Quarry LP boosted its position in shares of Cardinal Health by 541.7% during the third quarter. Quarry LP now owns 616 shares of the company’s stock worth $68,000 after buying an additional 520 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CAH shares. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Wells Fargo & Company upped their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Morgan Stanley upped their target price on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their target price on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

Cardinal Health Stock Down 1.0 %

NYSE:CAH opened at $131.80 on Friday. The stock’s 50 day moving average price is $127.35 and its two-hundred day moving average price is $120.00. The firm has a market capitalization of $31.84 billion, a price-to-earnings ratio of 24.59, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $133.67.

Cardinal Health (NYSE:CAH) last announced 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 expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid 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 currently 37.69%.

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.