Advisory Services Network LLC Lowers Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Advisory Services Network LLC reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 58.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,563 shares of the company's stock after selling 10,606 shares during the period. Advisory Services Network LLC's holdings in Cardinal Health were worth $894,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Rothschild Investment LLC increased its position in shares of Cardinal Health by 10.1% during the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company's stock worth $101,000 after purchasing an additional 79 shares in the last quarter. Private Trust Co. NA grew its stake in Cardinal Health by 11.0% during the 4th quarter. Private Trust Co. NA now owns 930 shares of the company's stock valued at $110,000 after acquiring an additional 92 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock worth $411,000 after buying an additional 93 shares in the last quarter. TIAA Trust National Association increased its stake in shares of Cardinal Health by 4.5% in the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock worth $258,000 after acquiring an additional 94 shares during the last quarter. Finally, MWA Asset Management raised its holdings in shares of Cardinal Health by 2.9% during the 4th quarter. MWA Asset Management now owns 3,324 shares of the company's stock worth $393,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

NYSE CAH traded up $0.25 during trading on Friday, reaching $134.61. 2,350,067 shares of the company's stock were exchanged, compared to its average volume of 2,199,301. The company has a 50 day moving average price of $130.03 and a two-hundred day moving average price of $123.33. The stock has a market cap of $32.52 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.50.

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

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, April 1st. Cardinal Health's payout ratio is 37.69%.

Analysts Set New Price Targets

CAH has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Wells Fargo & Company raised their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. Argus set a $148.00 price target on Cardinal Health in a report on Tuesday, February 4th. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.86.

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.