California Public Employees Retirement System Sells 18,207 Shares of Cardinal Health, Inc. (NYSE:CAH)

California Public Employees Retirement System trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,151,770 shares of the company's stock after selling 18,207 shares during the period. California Public Employees Retirement System owned about 0.48% of Cardinal Health worth $136,220,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cyrus J. Lawrence LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at about $26,000. Promus Capital LLC bought a new stake in Cardinal Health in the 4th quarter valued at approximately $30,000. Lee Danner & Bass Inc. acquired a new position in Cardinal Health during the 4th quarter worth approximately $35,000. Kentucky Trust Co bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $41,000. Finally, HHM Wealth Advisors LLC grew its stake in shares of 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 acquiring an additional 144 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 2.5 %

Shares of Cardinal Health stock traded down $3.50 on Friday, hitting $133.60. The stock had a trading volume of 938,832 shares, compared to its average volume of 2,116,173. The stock has a market cap of $32.27 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $139.50. The business's 50 day moving average is $129.14 and its two-hundred day moving average is $121.44.

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Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data 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%. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal 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 paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is currently 37.69%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price 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. Mizuho increased their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday. Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and lifted their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and increased their price target for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Finally, Argus set a $148.00 price target on Cardinal Health in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.