Alliancebernstein L.P. Sells 11,339 Shares of Cardinal Health, Inc. (NYSE:CAH)

Alliancebernstein L.P. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 344,214 shares of the company's stock after selling 11,339 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Cardinal Health worth $40,710,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company's stock worth $1,566,913,000 after purchasing an additional 627,253 shares during the period. Geode Capital Management LLC boosted its position in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock worth $633,298,000 after acquiring an additional 42,082 shares in the last quarter. Amundi boosted its position in shares of Cardinal Health by 5.5% during the 4th quarter. Amundi now owns 2,116,291 shares of the company's stock worth $259,309,000 after acquiring an additional 110,605 shares in the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $246,748,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Cardinal Health by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company's stock worth $179,653,000 after acquiring an additional 44,386 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

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Cardinal Health Stock Performance

Shares of NYSE:CAH traded down $2.96 during mid-day trading on Thursday, reaching $127.49. 737,244 shares of the company's stock were exchanged, compared to its average volume of 2,162,435. The firm has a market capitalization of $30.80 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.49 and a beta of 0.61. The business's fifty day moving average price is $129.13 and its 200-day moving average price is $122.10. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $139.50.

Cardinal Health (NYSE:CAH - Get Free Report) 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 net margin of 0.59% and a negative return on equity of 59.57%. Analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio is presently 37.69%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and increased their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Argus set a $148.00 price target on shares of Cardinal Health in a research report on Tuesday, February 4th. Morgan Stanley increased their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.