CFS Investment Advisory Services LLC Sells 216 Shares of Cardinal Health, Inc. (NYSE:CAH)

CFS Investment Advisory Services LLC decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,568 shares of the company’s stock after selling 216 shares during the period. CFS Investment Advisory Services LLC’s holdings in Cardinal Health were worth $1,723,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Eastern Bank purchased a new stake in Cardinal Health in the third quarter worth about $25,000. Frazier Financial Advisors LLC raised its holdings in shares of Cardinal Health by 69.8% in 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 in the last quarter. Hara Capital LLC purchased a new stake in shares of Cardinal Health in the 3rd quarter worth approximately $31,000. AM Squared Ltd bought a new position in shares of Cardinal Health during the third quarter valued at approximately $33,000. Finally, Carolina Wealth Advisors LLC purchased a new position in Cardinal Health during the third quarter valued at approximately $47,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

NYSE CAH opened at $128.89 on Friday. The company has a market cap of $31.19 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 1.57 and a beta of 0.63. The stock’s fifty day moving average price is $121.36 and its 200 day moving average price is $112.92. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $129.68.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The business 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 revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. Research analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

Analyst Ratings Changes

Several brokerages have issued reports on CAH. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Morgan Stanley raised their price objective on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Mizuho initiated coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $101.00 to $127.00 in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.64.

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.