Corebridge Financial Inc. Sells 3,267 Shares of Cardinal Health, Inc. (NYSE:CAH)

Corebridge Financial Inc. cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,977 shares of the company’s stock after selling 3,267 shares during the period. Corebridge Financial Inc.’s holdings in Cardinal Health were worth $6,975,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings 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 purchasing an additional 2,451 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Cardinal Health by 35.9% in the 3rd quarter. Cerity Partners LLC now owns 32,964 shares of the company’s stock worth $3,643,000 after buying an additional 8,707 shares during the last quarter. Algert Global LLC bought a new position in shares of Cardinal Health in the third quarter valued at approximately $1,008,000. Brooklyn Investment Group bought a new position in shares of Cardinal Health in the third quarter valued at approximately $70,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Cardinal Health during the third quarter worth $1,691,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.2 %

CAH stock opened at $136.43 on Friday. The stock has a 50-day simple moving average of $128.36 and a two-hundred day simple moving average of $120.76. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $137.18. The firm has a market capitalization of $32.96 billion, a PE ratio of 25.45, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.48%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent analyst reports. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Citigroup raised their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Argus set a $148.00 price target on shares of Cardinal Health in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $139.36.

About Cardinal Health

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.