Occidental Asset Management LLC Has $4.01 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Occidental Asset Management LLC raised its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,873 shares of the company's stock after buying an additional 3,102 shares during the quarter. Occidental Asset Management LLC's holdings in Cardinal Health were worth $4,006,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Empirical Asset Management LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at $859,000. Gateway Investment Advisers LLC increased its position in Cardinal Health by 98.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 12,154 shares of the company's stock worth $1,437,000 after buying an additional 6,034 shares during the last quarter. Mirador Capital Partners LP raised its holdings in Cardinal Health by 3.6% during the fourth quarter. Mirador Capital Partners LP now owns 13,429 shares of the company's stock valued at $1,588,000 after buying an additional 466 shares in the last quarter. Carolina Wealth Advisors LLC lifted its position in shares of Cardinal Health by 346.9% in the fourth quarter. Carolina Wealth Advisors LLC now owns 1,917 shares of the company's stock worth $227,000 after buying an additional 1,488 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its stake in shares of Cardinal Health by 13.6% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 6,378 shares of the company's stock worth $754,000 after acquiring an additional 764 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the subject of several analyst reports. Bank of America upgraded Cardinal Health from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Evercore ISI raised shares of 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Morgan Stanley upped their price target on shares of Cardinal Health from $127.00 to $136.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Finally, StockNews.com lowered Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Sunday, November 3rd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and an average target price of $133.29.

Cardinal Health Price Performance

CAH stock traded down $0.39 during midday trading on Friday, hitting $126.64. The company's stock had a trading volume of 881,432 shares, compared to its average volume of 2,050,790. The company's fifty day moving average price is $120.63 and its 200 day moving average price is $111.61. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $127.27. The stock has a market capitalization of $30.65 billion, a P/E ratio of 24.64, a PEG ratio of 1.48 and a beta of 0.63.

Cardinal Health (NYSE:CAH - Get Free Report) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health's revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 earnings per share. Equities analysts expect that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health's dividend payout ratio (DPR) is currently 39.30%.

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.