Smith Group Asset Management LLC Makes New $315,000 Investment in Cardinal Health, Inc. (NYSE:CAH)

Smith Group Asset Management LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,660 shares of the company's stock, valued at approximately $315,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Paragon Capital Management Inc. boosted its stake in Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company's stock valued at $1,451,000 after acquiring an additional 99 shares during the last quarter. Huntington National Bank raised its holdings in shares of Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company's stock worth $1,193,000 after purchasing an additional 100 shares during the period. Frazier Financial Advisors LLC raised its holdings in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock worth $28,000 after purchasing an additional 104 shares during the period. UMB Bank n.a. raised its holdings in shares of Cardinal Health by 4.9% during the third quarter. UMB Bank n.a. now owns 2,249 shares of the company's stock worth $249,000 after purchasing an additional 106 shares during the period. Finally, Raleigh Capital Management Inc. raised its holdings 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 worth $55,000 after purchasing an additional 106 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Up 0.8 %

Cardinal Health stock traded up $1.03 during trading hours on Thursday, hitting $128.79. 1,112,826 shares of the company traded hands, compared to its average volume of 2,043,265. The firm has a market cap of $31.17 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.57 and a beta of 0.63. The firm's 50-day simple moving average is $121.90 and its two-hundred day simple moving average is $113.75. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84.

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, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.57%. Cardinal Health's dividend payout ratio (DPR) is 39.30%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $132.00 to $142.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. StockNews.com cut shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 3rd. Morgan Stanley increased their price objective on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. TD Cowen raised shares of Cardinal Health from a "hold" rating to a "buy" rating and increased their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Mizuho began coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an "outperform" rating and a $139.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $135.21.

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.