Assetmark Inc. Acquires 20,394 Shares of Cardinal Health, Inc. (NYSE:CAH)

Assetmark Inc. increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 54.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,955 shares of the company's stock after buying an additional 20,394 shares during the period. Assetmark Inc.'s holdings in Cardinal Health were worth $6,854,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Frazier Financial Advisors LLC boosted its position in 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 buying an additional 104 shares during the last quarter. Hara Capital LLC acquired a new position in shares of Cardinal Health during the third quarter valued at $31,000. AM Squared Ltd bought a new position in Cardinal Health in the third quarter valued at about $33,000. Kentucky Trust Co acquired a new stake in Cardinal Health in the fourth quarter worth about $41,000. Finally, HHM Wealth Advisors LLC raised its holdings in Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company's stock worth $47,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Down 2.2 %

CAH traded down $2.84 during trading on Monday, hitting $123.66. The company had a trading volume of 192,018 shares, compared to its average volume of 2,376,640. The company has a market capitalization of $29.87 billion, a PE ratio of 23.10, a PEG ratio of 1.49 and a beta of 0.66. The firm's 50-day moving average price is $125.58 and its 200 day moving average price is $118.88. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84.

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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, beating 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%. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's payout ratio is 37.69%.

Analyst Upgrades and Downgrades

CAH has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. TD Cowen raised shares of Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Citigroup raised their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an "outperform" rating and a $139.00 price objective for the company. Finally, Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and raised their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and an average target price of $139.36.

Cardinal Health Company Profile

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.