Allspring Global Investments Holdings LLC Sells 86,987 Shares of Cardinal Health, Inc. (NYSE:CAH)

Allspring Global Investments Holdings LLC reduced its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 34.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,644 shares of the company's stock after selling 86,987 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Cardinal Health worth $19,785,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. MWA Asset Management increased its stake in Cardinal Health by 2.9% in 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 last quarter. Huntington National Bank boosted its holdings in shares of Cardinal Health by 0.9% in the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company's stock worth $1,193,000 after purchasing an additional 100 shares in the last quarter. Frazier Financial Advisors LLC boosted its holdings in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Cardinal Health by 29.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company's stock worth $55,000 after purchasing an additional 106 shares in the last quarter. Finally, Patron Partners LLC boosted its holdings in shares of Cardinal Health by 6.1% in the 4th quarter. Patron Partners LLC now owns 2,043 shares of the company's stock worth $242,000 after purchasing an additional 117 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAH has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a report on Monday, November 4th. 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. 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. Evercore ISI upgraded Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley upped their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $136.87.

Cardinal Health Trading Up 0.5 %

NYSE CAH traded up $0.60 on Thursday, hitting $127.35. The company's stock had a trading volume of 2,057,565 shares, compared to its average volume of 2,342,627. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The company's 50-day simple moving average is $123.25 and its 200 day simple moving average is $116.81. The firm has a market cap of $30.76 billion, a P/E ratio of 23.76, a PEG ratio of 1.48 and a beta of 0.63.

Cardinal Health (NYSE:CAH - Get Free Report) last released 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%. On average, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is currently 37.69%.

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.