Allstate Corp Takes $844,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Allstate Corp purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,133 shares of the company's stock, valued at approximately $844,000.

A number of other hedge funds have also bought and sold shares of CAH. Cyrus J. Lawrence LLC acquired a new position in Cardinal Health in the fourth quarter worth $26,000. Promus Capital LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $30,000. Lee Danner & Bass Inc. bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $35,000. Kentucky Trust Co acquired a new stake in Cardinal Health during the fourth quarter worth about $41,000. Finally, HHM Wealth Advisors LLC lifted its holdings in Cardinal Health by 57.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company's stock worth $47,000 after acquiring an additional 144 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Down 1.2 %

NYSE:CAH traded down $1.71 during mid-day trading on Thursday, reaching $136.96. 4,061,897 shares of the stock were exchanged, compared to its average volume of 2,116,500. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $139.39. The firm has a market capitalization of $33.09 billion, a PE ratio of 25.55, a PEG ratio of 1.49 and a beta of 0.66. The business has a fifty day moving average price of $128.98 and a 200 day moving average price of $121.33.

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Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared 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 37.69%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Citigroup boosted their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Morgan Stanley raised their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Bank of America upgraded Cardinal Health from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Finally, TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $140.14.

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.