Sovereign Investment Advisors LLC Invests $361,000 in Cardinal Health, Inc. (NYSE:CAH)

Sovereign Investment Advisors LLC purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,055 shares of the company's stock, valued at approximately $361,000.

A number of other institutional investors have also added to or reduced their stakes in CAH. Atria Investments Inc raised its stake in shares of Cardinal Health by 7.5% in the third quarter. Atria Investments Inc now owns 12,810 shares of the company's stock worth $1,416,000 after purchasing an additional 899 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of Cardinal Health by 11.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 4,618 shares of the company's stock worth $510,000 after purchasing an additional 472 shares during the last quarter. Huntington National Bank raised its stake in shares of Cardinal Health by 0.9% in 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 last quarter. Metis Global Partners LLC raised its stake in shares of Cardinal Health by 2.0% in the third quarter. Metis Global Partners LLC now owns 12,346 shares of the company's stock worth $1,364,000 after purchasing an additional 237 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its stake in shares of Cardinal Health by 9.0% in the third quarter. OneDigital Investment Advisors LLC now owns 3,732 shares of the company's stock worth $412,000 after purchasing an additional 307 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Wells Fargo & Company increased their price target on Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. Argus set a $148.00 price target on Cardinal Health in a research report on Tuesday, February 4th. Finally, Mizuho started coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price target for the company. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $139.36.

Cardinal Health Stock Up 0.7 %

NYSE:CAH traded up $0.90 during trading hours on Thursday, hitting $133.02. 1,788,563 shares of the company's stock traded hands, compared to its average volume of 1,962,841. The firm has a market cap of $32.13 billion, a P/E ratio of 24.82, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $133.08. The business's fifty day simple moving average is $126.94 and its two-hundred day simple moving average is $119.78.

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 (EPS) for the quarter, beating 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, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

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

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.