OVERSEA CHINESE BANKING Corp Ltd Sells 14,492 Shares of Cardinal Health, Inc. (NYSE:CAH)

OVERSEA CHINESE BANKING Corp Ltd lowered its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 86.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,218 shares of the company's stock after selling 14,492 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Cardinal Health were worth $262,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CAH. Promus Capital LLC acquired a new position in Cardinal Health during the 4th quarter worth about $30,000. Kentucky Trust Co bought a new position in shares of Cardinal Health in the fourth quarter worth about $41,000. HHM Wealth Advisors LLC lifted its position in shares of Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company's stock worth $47,000 after purchasing an additional 144 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Cardinal Health by 29.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company's stock valued at $55,000 after purchasing an additional 106 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Cardinal Health by 541.7% in the third quarter. Quarry LP now owns 616 shares of the company's stock valued at $68,000 after purchasing an additional 520 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of NYSE CAH traded down $0.35 during midday trading on Tuesday, reaching $132.86. 2,122,562 shares of the stock were exchanged, compared to its average volume of 1,972,952. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $133.67. The company has a market capitalization of $32.09 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.49 and a beta of 0.66. The business has a 50-day simple moving average of $127.60 and a two-hundred day simple moving average of $120.24.

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Cardinal Health (NYSE:CAH - Get Free Report) last posted 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%. Equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.52%. Cardinal Health's dividend payout ratio (DPR) is currently 37.69%.

Wall Street Analysts Forecast Growth

CAH has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Evercore ISI upgraded Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price for the company in a research report on Tuesday, January 7th. Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and raised their price target for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Citigroup boosted their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Finally, Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 target price on the stock. Four investment 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, Cardinal Health has an average rating of "Moderate Buy" and an average target price of $139.36.

Cardinal Health 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.